North Texas workers are reaping the benefits of a booming regional economy, with new data showing wages have risen even against persistently high inflation.
Bolstered by a relatively tight labor market, the average weekly wage in Dallas County — which represents the region’s largest economic hub, with more than 1.8 million employees — rose 3.9% in the fourth quarter of 2024 compared with a year earlier, according to Bureau of Labor Statistics figures released last week.
That pegged average weekly wages at $1,754, the agency’s data showed, the third highest among the nation’s 10 largest counties. Only New York County, which encomes Manhattan, and King County, Wash., which includes Seattle, saw higher average pay.
Tarrant County, with over 1 million employees, saw its corresponding weekly earnings rise to $1,440, or 3.3% higher than a year earlier, the BLS noted.
Those wage bumps narrowly outpaced inflation, which has been eating into purchasing power and souring consumer sentiment nationwide. Last year, American goods and services jumped by 2.9%.
Still, the North Texas wage gains lagged those of many other regions. In the nation’s 370 largest counties — which together represent the majority of the U.S. economy — average wages rose by 5% year over year in the fourth quarter, the BLS data showed. That included a more than 10% increase in San Francisco County, a 6% increase in Miami-Dade, and a 4.3% increase in Cook County, Ill., which includes Greater Chicago.
While certain high-paying sectors, such as natural resources and mining, helped push Dallas County’s average higher, pay in other sectors ranked relatively poorly. Dallas County’s average wages for leisure and hospitality clocked in at $721, for example, near the bottom among large counties.
The D-FW county wage numbers likely reflect a moderation in a regional economy that has ranked among the country’s hottest for years, according to Jay Denton, the chief economist for Radix, a real estate analytics company. In late 2023, according to BLS data, Dallas County notched a 4.2% year-over-year average wage increase while Tarrant County saw a 5.6% increase, both significantly higher than the 3.6% national figure.
“It’s just hard to grow at the pace that it was,” Denton said.
More recent data also suggests another potential acceleration. At the end of this March, the D-FW metro area saw a 4.5% one-year wage and salary jump, according to additional BLS data. That figure was higher than both year-over-year inflation (2.4%) and the comparable national figure (3.4%).
“If it cooled a little too much last year, it might be becoming a little more competitive this year, is the way I’m reading it,” Denton said.
Along with the types of jobs that the county has recently been adding — a lot of higher-paying finance and tech roles — D-FW’s hot real estate market is also likely driving up wages, Denton pointed out. That’s because employers usually respond to higher living costs by making more attractive salary offers.
Overall, D-FW employment also remains relatively healthy. In December 2024, Dallas County recorded a 0.6% year-over-year increase in employed workers and Tarrant County saw a 0.9% increase, BLS data found. The country’s 370 largest counties as a whole recorded a 0.8% employment bump.