Oil boom equals high pay for lots of jobs

The Williston Herald reports that Average Wage in Williams County nearly $71,000 a year.

In 1¾ years through September ‘11, there were 12,000 new jobs in the city.

Wages? Check this out:

Williams County also led the state in personal income increases at the end of the third quarter in 2011. The average weekly wage was nearly $1,400 in Williams County, just under $71,000 a year.

What’s the unemployment rate?  According to my source in Williston, it’s at the some-days-restaurants-close-in-mid-afternoon-because-they-don’t-have-enough-staff percent.

What’s the retail sales environment?  My source reports that Wal-Mart pulls pallets of stuff onto the floor at night but doesn’t stock the shelves because everything will be gone early the next morning.

How does that near $71K average annual comp compare to the U.S. average?

Puts Williston at the highest paid area in the country.

Mark Perry put up the data at Williston, ND May Have Highest Wages in U.S.

From his table, Williston is at $70,000, San Francisco is at $64,820.

From the professors conclusion:

MP: That might also be higher than any other city or metro area in the entire country, see chart above of average annual wages by metro area based on data from the BLS. So it’s not just drill, drill, drill = jobs, jobs, jobs, it’s also the case that drill, drill, drill = high-paying jobs, high-paying jobs, high-paying jobs.

Hat Tip: Carpe Diem and BakkenBlog News

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