3Q/12 County employment and wage report

From September 2011 to September 2012, employment increased in 276 of the 328 largest U.S.
counties, the U.S. Bureau of Labor Statistics reported today. Elkhart, Ind., posted the largest increase,
with a gain of 6.9 percent over the year, compared with national job growth of 1.6 percent. Within
Elkhart, the largest employment increase occurred in manufacturing, which gained 4,734 jobs over the
year (10.1 percent). Benton, Wash., had the largest over-the-year decrease in employment among the
largest counties in the U.S. with a loss of 5.2 percent. County employment and wage data are compiled
under the Quarterly Census of Employment and Wages (QCEW) program, which produces detailed
information on county employment and wages within 7 months after the end of each quarter.
The U.S. average weekly wage decreased over the year by 1.1 percent to $906 in the third quarter of
2012. This is one of only six over-the-year average weekly wage declines dating back to 1978, when the
first comparable quarterly data are available. (See Technical Note.) Average weekly wages declined in
every industry except for information, in which wages increased by 1.3 percent. Wage declines were
also widespread across states, with the notable exception of a 6.3 percent increase in North Dakota.
Yolo, Calif., had the largest over-the-year decrease in average weekly wages with a loss of 7.0 percent.
Within Yolo, a total wage decline of $102.9 million (-19.1 percent) in government had the largest
contribution to the decrease in average weekly wages. San Mateo, Calif., experienced the largest
increase in average weekly wages with a gain of 7.3 percent over the year.

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About TARR Report

S.M.A. Publications was formed in 1997 with a mission of providing real estate information for practitioners within the Research Triangle Park area of North Carolina. The company produces the T.A.R.R. Reports which are published monthly, quarterly and annually, covering all aspects of the residential real estate market. The publisher, Stacey P. Anfindsen, has over 23 years of residential experience in the Triangle market. He is an active real estate appraiser, educator and consultant.
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