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Report: Wisconsin's private sector wages fell July-September 2012

by
Paycheck
Paycheck

MADISON, WI (WTAQ) - Wisconsinites as a whole appear to be making less money at their jobs.

A report prepared for the U.S. Labor Department said average private sector wages for last July through September dropped by 1.2 percent from the same time in 2011.

Wells Fargo Bank economist Brian Jacobsen said it appears that there’s been a slight move toward lower-paying jobs – and he called that troubling.

The same report said Wisconsin created almost 20,500 new jobs in the year ending in September – much less than in previous quarters. The state averaged over 37,000 new jobs on a year-to-year basis as of the last seven quarters before this one.

The numbers were prepared for the U.S. Labor Department’s Quarterly Census of Employment and Wages. The full national report is due out later this year.

Although the figures are a number of months old, they represent the most complete employment picture, since virtually all employers are surveyed.

The monthly unemployment reports survey only a small fraction of companies – and while the numbers get the biggest attention, they’re also subject to heavy revisions later on.

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