Why is this important?
Average pay per employee is a basic measure of the economy’s health.  Increasing or decreasing inflation-adjusted pay per employee reflects the relative economic vitality of Long Island.  It does not, however, assess whether the returns of economic activity are being distributed equally throughout the workforce.  Average pay per employee is a basic measure of the economy’s health.  Increasing or decreasing inflation-adjusted pay per employee reflects the relative economic vitality of Long Island.  It does not, however, assess whether the returns of economic activity are being distributed equally throughout the workforce.

How are we doing?
The median household income in Long Island is 61 percent higher than in the state and 76 percent higher than in the country as a whole.   In 2009, the median income was $89,645 in Long Island, $56,749 in the state, and $51,045 in the country.  From 2000 to 2009, incomes grew by five percent in Long Island, while remaining stable in New York State, and declining by three percent in the United States.  In the most recently reported year, median household incomes in all three geographies decreased, falling farther nationally.    

While incomes are higher on Long Island, living costs are also higher.  Long Island’s cost of living has remained relatively stable in recent years compared to other regions.  In 2009, Long Island’s cost of living was 30 percent higher than the national average and second only to Silicon Valley.