Oil Paychecks Set a Record Even as Shale Industry Consolidates
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Wages for US oil workers set a fresh record in April as a wave of acquisitions in the shale industry has yet to impact the labor force.
Average hourly earnings for front-line oil and gas workers rose 0.5% from March to $44.67, according to a Labor Department report released Friday. Compared with a year ago, oil pay is up 3.2%. The strength in wages matched a national trend, pushing back bets for Federal Reserve rate cuts.