Impact Lab


Subscribe Now to Our Free Email Newsletter
September 19th, 2018 at 9:46 am

Americans are flocking to U.S. ‘boom towns’ where wages are rising fast

IMG_8936

Although wages have been mostly stagnant across the U.S. for the past five years, in some cities, salaries have actually been rising.

CNBC Make It has identified 10 cities where populations have been growing and median wages have been going up using data from personal finance site MagnifyMoney’s list of America’s biggest “boomtowns.” MagnifyMoney analyzed how the 100 largest metro areas in the country changed over a five-year period (between 2011 and 2016) across three categories: population and housing; workforce and earnings; and business growth. Cities could earn a possible score of 100 in each category, which were then averaged together for the final ranking. You can read the full methodology here.

Out of America’s top 50 “boomtowns,” here are the top 10 places where salaries have gone up most in the past five years.

10. San Francisco

IMG_8935

Median earnings increase between 2011 and 2016: 7 percent

Workforce and earnings score: 47.5

Final score: 45

Overall rank: 22

9. Spokane, Washington

Median earnings increase between 2011 and 2016: 7.2 percent

Workforce and earnings score: 30.4

Final score: 32.3

IL-Header-Communicating-with-the-Future

Overall rank: 50

8. Des Moines, Iowa

Median earnings increase between 2011 and 2016: 8.2 percent

Workforce and earnings score: 42.8

Final score: 51.7

Overall rank: 15

7. San Jose, California

IMG_8932

Median earnings increase between 2011 and 2016: 8.7 percent

Workforce and earnings score: 53.4

Final score: 47.4

Overall rank: 19

6. Austin, Texas

Median earnings increase between 2011 and 2016: 8.8 percent

Workforce and earnings score: 70.3

Final score: 87.8

Overall rank: 1

5. Charleston, South Carolina

Median earnings increase between 2011 and 2016: 9.2 percent

Workforce and earnings score: 60.6

Final score: 66.4

Overall rank: 4

4. Oklahoma City, Oklahoma

IMG_8931

Median earnings increase between 2011 and 2016: 10.6 percent

Workforce and earnings score: 44.4

Final score: 40.3

Overall rank: 31

3. El Paso, Texas

Median earnings increase between 2011 and 2016: 11.4 percent

Workforce and earnings score: 39.1

Final score: 43.9

Overall rank: 24

2. Baton Rouge, Louisiana

Median earnings increase between 2011 and 2016: 12 percent

Workforce and earnings score: 30.5

Final score: 34.2

Overall rank: 44

1. McAllen, Texas

IMG_8930

Median earnings increase between 2011 and 2016: 18.4 percent

Workforce and earnings score: 62.2

Final score: 55.6

Overall rank: 10

Via USA Today

IL-Header-Communicating-with-the-Future

Comments are closed.

Colony square1