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April 28, 2017 Comments Off on San Antonio Wage Growth Outpacing Texas, National Views: 244 San Antonio, Texas News

San Antonio Wage Growth Outpacing Texas, National

Average hourly wages in San Antonio’s private sector have picked up strongly in recent months. In March 2017, growth in the five-moving average of wages was 7.9%, according to data released by the Federal Reserve Bank of Dallas. In comparison, wage growth increased by 2.2% across Texas and 2.7% nationally. Total wages increased by 6.5% year over year.

Increased wages, combined with a decline in the unemployment rate helped propel the San Antonio Business-Cycle Index by 3.6% annualized in March, which is back above its long-term growth average. Home prices remain near historic highs, while home inventory is below the state’s level at 3.1 months’ supply. Job growth increased by 0.7% in Q1 2017, with improvement mixed across all sectors.

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