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Uptick in wage earning

Alecia Warren | Hagadone News Network | UPDATED 12 years, 11 months AGO
by Alecia Warren
| December 16, 2011 8:00 PM

Let's take any sign of an improving job market that we can get.

The total compensation for workers across Kootenai County bumped up 1.5 percent between 2009 and 2010, according to statistics just released by the Bureau of Economic Analysis.

Not a huge surprise, said regional Economist Alivia Body, seeing how metal prices have been at record levels.

"The most significant impact to the increase is because the mining industry has done so well," Body stated on Wednesday. "And since most mining companies have profit sharing, it directly increases compensation."

Total compensation of employees in Kootenai County rose from $2,264,990 in 2009 to $2,299,843 in 2010, according to a nationwide study of county compensation by the BEA, a federal agency that monitors economic trends.

The mining industry saw the biggest increase, with average compensation per job jumping from $15,633 to $28,305.

Laura Skaer, executive director of the Northwest Mining Association, said mining companies in North Idaho have raised compensation because of the high demand for experienced, trained personnel, some earning upward of $70,000 a year.

"If you want to keep your best and brightest, the market is such that that compensation package is up," Skaer said.

Many miners have production incentives in their wage package, she added, giving an opportunity for bonuses that also drive up wages.

Skaer predicted mining salaries and benefits will stay healthy in North Idaho, with exploration activities continuing in the Silver Valley. Hecla Mining Company also plans to extend a mine shaft several thousand feet at Lucky Friday Mine, she noted, and the new owners of the Sunshine Mine are looking to resurrect it.

"In 2012, I anticipate we're going to see continued growth in the region," Skaer said.

Other industries in Kootenai County contributed to putting more in workers' pockets.

Compensation per average job in computer and electronics manufacturing rose $5,101 to $29,254 in 2010, according to the BEA.

Electronics and appliance stores also pushed up retail compensation, with a jump from $4,835 to $8,802 per employee.

That difference, Body said, is due to a couple local employers changing their NAICS (North American Industry Classification System) code to better reflect their business.

Miscellaneous store retailers saw job compensation per job drop from $12,390 to $11,515.

Mary Peak, owner of Christmas At the Lake, said local retailers are still seeing customers, but folks are being shrewder with their purchases.

"It's a little tougher at high ticket items," Peak said, adding that her store is seeing more transactions, but average sales are down. "We've just noticed that we're selling more ornaments than like a big $200 Santa."

Compensation per average job in securities, commodity contracts and investments also shot up from $20,123 to $27,182.

Overall compensation for the construction industry nosedived from $190,692 to $164,008.

These trends might not still be continuing today because most datasets lag, Body said, but she believes county residents should be optimistic.

"I think we should be very encouraged that our economy is diverse enough to withstand such an economic downturn with shining stars such as the mining industry," she said.

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