Sunday, July 20, 2014

Idaho Falls ranks No. 1 in wage growth study

The 24/7 Wall St Web site has ranked Idaho Falls No. 1 on its list of "10 Cities Where Wages Are Soaring."

The story, posted Wednesday, says wages rose 18.4 percent between the fourth quarters of 2012 and 2013, "by far the most of any metro area in the nation."

To read the full story, follow this link. For those of you too lazy to manage a mouse click, here are the "vital stats":

  • 1-yr. wage growth: 18.4%

  • Average weekly wage: $806
1-yr. unemployment rate change: -0.6%
  • 1-yr. employment rate change: N/A
What's driving this is unemployment. "The Idaho Falls unemployment rate fell from an already-low 5.2 percent in May of 2013 to just 3.7 percent this May, lower than in the vast majority of U.S. metro areas. In two of the three counties in this metro area, professional and business services accounted for much of the wage growth overall."

The other communities in the top ten were:

2. The Villages, Fla. (avg. weekly wage $870)
3. Gulfport-Biloxi-Pascagoula, Miss. (avg. weekly wage $791)
4. Wheeling, W.Va.-Ohio (avg. weekly wage $802)
7. Boise (avg. weekly wage $839)