COMMENTARY: Our economy is not where it should be yet

BY BILL REAGANq

Not in Cameron County, anyway. A recent report from the United States Bureau of Labor Statistics tells the story.

The national economy has improved over the past several years. The Great Recession had a long lasting effect on the U. S. economy, and a much greater effect on the economy of Cameron County. The national economy has recovered and has been growing for several years. Texas has consistently been in the lead with regard to economic growth, outpacing national averages and trends.

Texas border counties are a different story. We were poorer to begin with and were impacted by The Great Recession to a greater degree than the rest of Texas. The effects have been longer lasting. Our border economy is better, but we have a long way to go to catch up with the rest of the nation.

Most of Texas’ twenty-five largest counties saw wage gains from September, 2016 to September, 2017. Wages in Midland County rose a whopping 8.4 percent. In five of Texas’ largest counties average wages were fifteen percent or more above the national average.

Twenty Texas counties experienced a decrease in average wages during the same period of time. Unfortunately, Cameron County led the way in wage decreases, down three percent.

Cameron County is ranked 346th among all large counties in the United States for average weekly wages at $612 per week, about $15 per hour. Three of the four counties with the average lowest weekly wage in the nation are along the Rio Grande River, Cameron, Hidalgo and Webb counties.

A family of four needs $4,909 per month to maintain a modest lifestyle in Cameron County. That includes rent of $697 per month, monthly health care and insurance costs of $861 and life’s other basic necessities. Two people earning $15 per hour will make it ok in Cameron County. But most workers do not earn that much. Average monthly household income for Cameron County is $3,029.

Bill Reagan is executive director of Loaves & Fishes of the Rio Grande Valley.