(Part 2) Oil Boom= Big Income
An oil field worker can earn as much as $100,000 a year even without a college degree. This level of income is a big deal; as of January 2014, the minimum wage in the United States had been mandated at $7.25 per hour. Some states have legislated slightly higher minimum wages. Even if a worker worked 12 hours a day, 6 days a week for a total of 72 hours a week for $10 an hour, the person’s income would only amount to $720 a week. In the Bakken Oil counties, the average weekly wage of workers is $1,316.
As an example of the income inequality brought about by the oil boom, while a truck driver could earn $17.50 elsewhere, in the Bakken counties, he could earn as much as $32 an hour. According to some online reports, McDonald’s fats food chain in the region have started offering $300 signing bonuses just to attract workers.
There have also been reports of the construction industry losing workers to the oil industry because of the salaries being offered by oil companies. There is such a great demand for workers that oil companies are purportedly poaching other industries to meet the demand.
Terry Smeader
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