High Wage Industries are hiring


Critics of President Trump often dismiss the low unemployment rate as just a lot of "burger flipping" jobs. But analysts say six figure jobs are leading the way these days.

Moody’s economist Adam Kamins says, in Houston, energy sector jobs are paying very well.

"There was a time early on in the cycle where a lot of the jobs that were being added were in these sort of low wage retail, consumer, restaurant type of industries but these days, the last few years, we've really seen a shift and high wage job growth is really leading the way now."

Workforce solutions economist Parker Harvey says we're talking about jobs like pipeline construction, oilfield services and manufacturing management.

"The average weekly wage in those is about $1,900 a week which translates to a little over $100,000 a year."

Harvey says this is good news for everyone, not just those in the energy industry.

"I would imagine if jobs are paying pretty well we're probably going to see more of this money trickle its way out into the rest of the economy."

Moody's says a high wage job pays at least $65,000. From June of last year to August of this year, the number of jobs in high-wage industries grew two percent. Moody’s says a low-wage industry has average pay below $35,000.

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