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San Antonio is leading the state in wage growth — pay was up 5.4 percent in April — but the city’s workers are still bringing home less than the average hourly rates paid across Texas and nationwide.
The increases come as strong hiring further tightens the supply of workers across the metro area — but a job-growth slowdown may be ahead.
The three-month moving average of hourly pay was $27.90 in San Antonio, according to the latest economic indicator report from the Federal Reserve Bank of Dallas. That’s $3.27 less per hour than the Texas average and $5.32 less than the national average. In the past year, San Antonio’s wages increased 2.2 percent, compared to 5.8 percent in gains in Texas as whole.
The recent increase wasn’t enough to outpace persistent inflation, either.
JOB GROWTH: San Antonio adds 8,300 jobs as unemployment drops to 3.4 percent in April
“I see it more as a business cycle,” Luis Torres, a senior economist with the Dallas Fed, said of factors driving the wage bump. “Right now there has been an increase in leisure and hospitality jobs … I’m still hearing from companies, restaurants or people from that sector that they’re still struggling to find people to work for them, so that’s pushing up wages.”
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