GUAM HOUSEHOLD INCOME DROPS 2.7 PERCENT

admin's picture

Average household income down to $45,786

By Jude Lizama HAGATNA, Guam (Marianas Variety, Dec. 30, 2009) – In Guam the average household income has dropped by US$1,276 or 2.7 percent in 2008 compared to 2005, according to the Guam Department of Labor’s Bureau of Labor Statistics.

The average household income was US$45,786 in 2008 and US$47,062 in 2005, according to the labor report.

The labor report also noted that the household size between 2005 and 2008 shrank from 3.9 persons to 3.5 persons "due to smaller household sizes and fewer income earners per household on average."

Average income earners per household also dropped from 2.2 percent to 1.5 percent.

Per capita income for 2008 stood at US$13,089, an increase of 2.5 percent compared to 2005 figures.

Household and per capita income statistics "include the total non-institutional civilian population," which refers to those 16-years or older who earn income.

The Average Earner’s Income for 2008 was recorded at US$25,479, a 12.6 percent spike from the 2005 recording of US$22,625.

As for Guam’s current employment rate, a separate labor report for September 2009 showed that the total number of jobs "increased slightly" as did private sector employment "but the total job count for all sectors was down by 860 jobs over the latest year."

Private sector employment saw a nominal increase to 44,860 from the June total of 44,710.

"Total private sector jobs fell by 1,040 jobs from the period six months ago in March and 1,130 jobs from the comparable period of one year ago in September," the report said.

Federal employment lost 20 jobs when compared to the previous quarter, and government of Guam employment saw a slight increase of 180 jobs compared to September of 2008.

In the past year, overall private average hourly earnings went up 72 cents; however, the total number of hours paid declined by 0.4 hours per week. Additionally, average weekly earnings increased US$21.21 per week, or 5.2 percent.

The report also said that "total payroll increased over the year as higher hourly earnings more than offset the decline in jobs and hours worked."

Rate this article: 
No votes yet

Add new comment