What does this measure?

The average annual salary paid to workers in each economic sector in 2007.

Why is this important?

Salaries are a gauge of overall economic health and a measure of the degree to which employees are sharing in the prosperity of a community or specific economic sector. They also indicate the vitality of specific sectors and the demand for workers in those sectors.

How is the Greater Capital Region performing?

Annual salaries in the Greater Capital Region averaged about $42,000 in 2007. Salaries in the Greater Capital Region were generally lower than the state and slightly below the nation. However, the average Manufacturing salary in the region was higher than both the state and nation at more than $58,000. Manufacturing salaries were especially high in Schenectady County, averaging almost $71,000. The Information sector offered the highest paying jobs in the region, paying over $61,000 per year and more than $82,000 in Rensselaer County. Statewide averages were strongly influenced by the high-wage downstate economy, especially high salaries in the Financial Activities sector of New York City.

Notes about the data.

Industries in which most of the workforce is full time (e.g. Manufacturing) will appear to pay significantly higher wages than ones (e.g. Retail or Leisure and Hospitality) that employ many part-timers.