Americans are flocking to these 10 cities where salaries are rising
Texas Border Business
Recently, McAllen was ranked in the Top 10 of the biggest boomtowns in the United States by Magnify Money. CNBC identified those 10 cities where populations have been growing and median wages have been rising from the “boomtowns” list. That methodology looked at three categories: population and housing; workforce and earnings; and business growth over a five-year period.
McAllen was ranked #1 in the list of boomtowns cities of rising salaries. See the full list here: https://www.cnbc.com/2018/09/11/top-10-us-cities-where-salaries-are-rising.html
The first thing reviewed was how much business and industry has grown locally. Researchers wanted to know how many new businesses there are, and how businesses, in general, are doing, as measured by their increase in hiring and — for businesses that don’t have employees, known as non-employers — how much revenue has increased.
“This is an incredible testament to the opportunity available here in McAllen,” said City of McAllen Mayor Jim Darling. “This represents the dynamic partnership that exists between the business community and local government to do the type of things that attract people and industry to our city.”
McAllen’s growing workforce and rising wages and employment opportunities is a key factor to McAllen’s ranking on the list. People generally enter a local workforce because they seek better opportunities, so researchers wanted to see how that changed, along with improvements to the unemployment rate and the increase in earnings. McAllen’s civilian labor workforce grew by 8.7%, as overall, its unemployment rate has decreased by 10.9%. Add to that the median earnings for workers skyrocketing by 18.4% and it is easy to see why more people are flocking to McAllen.
“The City of McAllen is committed to providing an environment for successful developments and projects through customer-friendly processes,” said City of McAllen City Manager Roel “Roy” Rodriguez, P.E. “This ensures a prosperous business environment for companies to open and expand, attracting more employees and customers. It’s a win-win for us all.
