AUSTIN (Austin Business Journal) — It’s a candidate-friendly job market, and that has employers across the U.S. pouring more money into paychecks — and in Austin, the paycheck hikes are on average twice as big as the national average.
That’s according to our new review of Bureau of Labor Statistics data, which found average weekly earnings rose 5.7% in U.S. metro areas between February 2021 and February 2022. The average employee in a metro area is taking home about $48 more a week than they were in February 2021 — $920.30 compared to $872.59.
But in Austin, the take-home pay is notably bigger, plus it has risen twice as high as the national average on a percentage basis. Growth in average weekly earnings is up 10.5% in Central Texas since last year, from $1,048 to $1,158.