Inflation Outpacing Wages Since Recession - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

DETR: Inflation Outpaces Wages Since Recession

Posted: Updated:

Studies show wages in Nevada aren't recovering from the recession at the same pace as the economy.

According to the Nevada Department of Employment, Training and Rehabilitation, wages were very stagnant during the recession.

Inflation increases on average about 3% every year, but wages in Nevada have not gone up each year.

In fact, the past couple years, when they did increase, it was only by about 1.5%.

I asked Dr. Robert Barone, an economist from Universal Value Advisors if he thinks wages will improve this year.

"We are going to see this year a little more upward pressure on wage rates as corporations battle for those employees they can use to fill positions. It's going to be better for middle class America in the coming year than it has been in the past."

What reports show is employers are investing in capital, investing in technology, investing in machines and replacing things that are breaking, but they're not investing in people.

"As technology gets better, individuals become more productive," said Dr. Barone. "So what individuals need to do is get the skills that technology requires. That's what is missing today."

If you want to see the entire interview, tune in for face the state this Saturday at 3:30pm or Sunday at 6:30am and 4pm.

Written by Chris Ciarlo

Powered by Frankly
All content © Copyright 2000 - 2018 Sarkes Tarzian, Inc. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.