Manufacturing Drives Saratoga County to 15th Fastest Average Wage Growth Last Summer
Boosted by its manufacturing sector, Saratoga County last summer had the nation’s 15th fastest growing weekly average wage among the 356 largest U.S. counties, according to new a Center of Economic Growth (CEG) analysis of new data from the U.S. Bureau of Labor Statistics.
During the third quarter of 2022, Saratoga County’s average week wage was $1,256, up 11.2 percent from the previous year. At 11.5 percent, Rockingham County, New Hampshire was the only Northeast county to have faster wage growth last summer.
Wage data from the New York State Department of Labor, Saratoga County’s manufacturing sector drove those wage gains. In Q3 2022, the average quarterly wage in the county’s manufacturing sector was $32,882, an increase of $10,563 (47.3 percent) over the year. Other sectors with fast-growing wages were information (26.4 percent) and wholesale trade (14.3 percent).
Data is not available for the computer and electronic product manufacturing subsector that includes GlobalFoundries Fab 8 in Malta. However, other high-paying production subsectors that saw rapidly increasing average quarterly wages were fabricated metal product (13.9 percent), machinery manufacturing (7.0 percent), and paper manufacturing (7.8 percent).
CEG INITIATIVES
To help Capital Region manufacturers continue to grow, CEG is helping manufacturers skill up their workers into higher-paying jobs. Since 2019, CEG has been sponsoring apprenticeships, and it currently oversees 54 apprentices for eight Capital Region manufacturers and technology firms.
In Saratoga County, CEG serves as the group sponsor for apprenticeship programs with the following manufacturers: Espey Mfg. & Electronics, GlobalFoundries and Meridian Manufacturing. CEG’s Maintenance Technician Apprenticeship Program with GlobalFoundries is a first-of-its-kind apprenticeship program for the semiconductor manufacturing industry.
CEG serves as the group sponsor for several apprenticeship programs for the following trades:
- Brewer/Distiller
- Cloud Engineer
- CNC Machinist
- Computer Support Technician
- Data Analyst
- Electro-Mechanical Technician
- Industrial Manufacturing Technician
- Machinist
- Welder (Industrial)
Don’t miss these insights into the trends that are shaping the Capital Region’s economy. Sign up for CEG’s e-news and follow us on:
