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Peer regions were chosen for their comparable size and composition. These same regions have been used for comparison in multiple other studies and reports.
Source: JobsEQ, Chmura Economic and Analytics, 3rd quarter 2017. U.S Bureau of Labor Statistics, Quarterly Census of Employment and Wages.
The jurisdictions in the CRC-footprint include: the City of Richmond, the Town of Ashland, and the Counties of Charles City, Chesterfield, Goochland, Hanover, Henrico, New Kent, and Powhatan.
Source: JobsEQ, Chmura Economic and Analytics, 3rd quarter 2017. U.S Bureau of Labor Statistics, Quarterly Census of Employment and Wages.
* Includes the Town of Ashland
Why It's Important
Average annual wages are measured by place of work and can be used to assess the relative average individual wealth of an area, which reflect changes in living standards. These wages have been normalized against the U.S. cost of living index to show U.S. purchasing power.
In the Richmond Region, annual wages increased from $51,229 to $54,490 since 2015.