Average Wage

Economic Development Average Wage

Why Is It Important?

The average wage is the mean salary of a group of workers. This value is a benchmark used to compare salaries and average wage across specific groups. Generally, rising wages are a sign of a growing economy and usually results in a better standard of living for workers with improved purchasing power.

What Is Measured?

This measure is taken from the Bureau of Labor Statistics Current Employment Statistics survey as the average (mean) hourly wages of major metro areas in the state. Polk County’s major metro area includes Lakeland and Winter Haven.

How Is It Measured?

This measure is calculated using the formulas below.

We can also measure average annual wages directly from the reported average hourly wage using the formulas below.

Average Wage = Total Wages / 2080 (52 Weeks Multiplied by 40 Hours)
Average Annual Wage = Total Wages / Average Employment Across Industries
Average Annual Wage = 2,080 x Average Hourly Wage for All Occupations

This measure is updated annually, during the first quarter of the calendar year, as data is available.

How Is Polk Performing?

In 2017, Polk County’s average wage was $40,560, which is up 0.95 percent from $40,180 in 2016. The state of Florida increased 1.68 percent from $44,050 in 2016 to $44,790 in 2017.

The Polk Performs gauge shows a comparison (percentage change) between Polk County’s average wage and Florida’s average wage when comparing the current year to the previous year. Green indicates that the percent increase for Polk County average wage exceeded the Florida percentage. Yellow indicates that Polk's percent change is between Florida's value and 1 percent less than the Florida value. Red indicates that Polk County’s percentage lags the State by more than 1 percent. For 2017, Polk’s percentage increase is 0.95 percent, which is less than Florida's 1.68 percent increase. Therefore, the indicator is shown in the yellow as being between less than 1 percent of the State’s increase.

For more information on average wage, please visit the Central Florida Development Council website.

Polk County Seal

The Polk County Board of County Commissioners is an equal opportunity and affirmative action employer.

Polk County Board of County Commissioners