25 News is taking a closer look at Waco’s economy — specifically weekly and monthly wages.
A local economist says wages in the area are lower than the national average, but he’s not surprised.
Taking a look at the U.S. Bureau of Labor Statistics, Waco and McLennan County workers make an average of $1,120 per week — that’s $270 less than the national average at $1,390.
Economist Thomas Fellows says those numbers are not surprising.
"Overall, we’ve seen the cost of living outpace wage growth in last 30 years especially for our lower and middle class overall," Fellows said.
Looking at the average hourly wages for Waco, it sits at $25.59, compared to $31.48 nationally.
Human resource managers make $61.20 an hour compared to cooks and fast food workers coming in at $12.31.
"That’s not necessarily strange because the cost of living is lower in Waco compared to cities like Dallas and Austin," Fellows said.
25 News looked to see who in the Central Texas area pays the most hourly without a college degree.
Lowe’s customer service pays $19 an hour, Hobby Lobby pays $18.50 an hour, CVS pays $18 an hour, Starbucks pays about $15 an hour, Target warehouse workers make $19.40 an hour, and Costco pays $19.50 an hour.
Fellows says there will be many tech jobs coming soon thanks to AI, and he recommends the younger generation learn as much as they can.
"If you don’t learn how to use AI, your job could be lost in the new economy and it will be a new economy," he said.
