Listen Live on  
 

Ticket 760

San Antonio's Sports Station
 
 

Texas Seeing Wage Growth

 
Texas Seeing Wage Growth
Posted March 28th, 2014 @ 4:49am by Jim Forsyth

Check your wallet---because there's probably more in it than you realize.

 

  Texas saw a 3.7% increase in personal incomes in 2013, one of the fastest growing levels of personal income growth in the country last year.

 

  Economist Ray Perryman isn't surprised.

 

  "A lot of things are driving it, there has been job growth across the board, not just a growth in low wage jobs," Perryman said.

 

  Perryman said one thing that the current economic boom is doing is dispelling the notion, which was used by Democrats against Gov. Perry during his ill fated 2012 President bid, is that the 'Texas miracle' is based on low wage jobs.

 

  "I think a big piece of it has been the big expansion of the energy industry, which brings with it a lot of high wage jobs."

 

  In fact, economists are now discussing what is called a 'wealth halo' in places like San Antonio, where the general economic boom, and the wealth created in the fracking fields, has rubbed off onto people who are buying more expensive houses, cars, and clothing, and are shopping at more expensive places.

 

 Energy has a great wealth creator.  North Dakota, which is home to the Bakken Shale boom, also saw huge increases in average wages in the past year.  In fact, Republicans say if the White House really wants to raise the minimum wage, the best way to do it is not to force employers to pay more by law, but it unleash the nation's energy potential.  They point out that in North Dakota, the average pay of Wal-Mart workers is more then $16 an hour, plus a signing bonus. 

 

 

Recommended Stories

More from Ticket 760

*