Fri. Mar 31st, 2023


The Real News Network

Where wages rose — and fell — the most in 2022

1 min read

Two of the major storylines of the 2022 economy were the soaring energy sector and the retrenching tech sector.

Driving the news: New government data released Wednesday shows just how that played out in the wages of workers based in energy and tech-heavy regions.

State of play: The detailed numbers on employment, wages, and job creation in local areas of the U.S. last year show that average wages surged in key oil and gas areas — like Midland County, Texas, a hub for the energy-rich Permian Basin, where average weekly wages jumped 14% year over year.

  • On the flip side, Silicon Valley and the Bay Area suffered sharp drops in average wages, as the tech sector shed jobs.
  • California's San Mateo County — where Facebook is headquartered — saw the steepest decline.

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