Oil Industry Drove US Wage Growth. Now That Is Over
by Irina Slav via OilPrice.com,
ZeroHedge.com
6/3/2016
A report from Pew Research Center reveals that between the third quarter of 2000 and the same period of last year, wages across the U.S. rose by 7.4 percent in real terms, driven largely by the oil and gas industry. Wages in energy-dependent communities rose by the most, in some cases more than twofold, such as in Texas. This shouldn’t be surprising as the period reviewed coincides with the peak of the shale boom in the country, even though it also covers two periods of recession. But those positive effects are starting to disappear.
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