Eagle Ford Prosperity Helping Raise All Wages

At a time when a national debate is raging about the best way to increase the wagers of low income, relatively unskilled workers, a study done by Texas A&M Kingsville shows that one sure fire way to increase wages is to encourage economic development, Newsradio 1200 WOAI reports.  Thomas Krueger, a professor of finance at TAMK, says since the fracking boom began in 2010, the wages paid to individuals in the Eagle Ford region of south Texas have gone up between 3 and 20 percent a year, well ahead of the national inflation rate of roughly 2 percent.  “The annualized average wage increase from 2010 to 2014 was five percent,” Krueger said.  This means that wage increases in the Eagle Ford have more than doubled the national average over that time.  And Krueger says the increases are by no means limited to ‘the one percent,’ the top people at the oil and drilling companies.  Nor is it limited to individuals who are employed in the oil fields at all.  “Take somebody like a beautician, or a person who cuts hair, that person has seen a significant rise.”

via Eagle Ford Prosperity Helping Raise All Wages | News Radio 1200 WOAI.

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