We're here to help!
A Workstream hiring specialist can help you identify high impact ways to improve your applicant experience, and even help you determine what is a good hourly wage for your location and business.
The current minimum wage in Fort Worth, Texas is $7.25 per hour. This is the same as the federal minimum wage, which has not been increased since 2009. The minimum wage in Fort Worth is lower than the national average of $7.50 per hour. However, it is higher than the minimum wages in some other states, such as Mississippi ($7.25 per hour) and Arkansas ($7.50 per hour). The minimum wage in Fort Worth has not increased in recent years. In fact, it has been stagnant since 2009. This has made it difficult for low-wage workers to make ends meet, as the cost of living has continued to rise. A livable wage in Fort Worth is estimated to be $15.75 per hour for a single adult with no children.
This means that a worker would need to earn $32,500 per year to afford basic necessities such as housing, food, transportation, and healthcare. The livable wage in Fort Worth is higher than the minimum wage, but it is still out of reach for many low-wage workers. This is because the minimum wage is not indexed to inflation, so it does not keep pace with the rising cost of living. An estimated 100,000 workers in Fort Worth make minimum wage. This includes both full-time and part-time workers. The majority of workers making minimum wage are employed in the service industry, such as restaurants, retail, and hospitality. Other industries with a high concentration of minimum wage workers include manufacturing, transportation, and warehousing.
A livable wage in Fort Worth is estimated to be $15.75 per hour for a single adult with no children. This means that a worker would need to earn $32,500 per year to afford basic necessities such as housing, food, transportation, and healthcare. The livable wage in Fort Worth is higher than the minimum wage, but it is still out of reach for many low-wage workers. This is because the minimum wage is not indexed to inflation, so it does not keep pace with the rising cost of living. The majority of workers in Fort Worth fall into the lower income class, with an annual salary of less than $35,000.
It's important to remember that the Hourly Wage Index data above reflects gross wages, or the amount of money an employee earns before accounting for payroll deductions like taxes, benefits, or wage garnishments. Due to variability in tax rates across locations, slightly lower gross wages in a certain location might result in higher take home pay, or vice versa.
This question is a difficult one to answer, as a "good hourly wage" is highly subjective according to experience, work responsibilities, cost of living, and other factors. We recommend using Hourly Wage Index data as a starting point. Once you have established a baseline for certain positions, do further research into similar businesses in your area.
Lastly, consider surveying your employees. They're the best resource to help you know what is a good hourly wage, what competitive pay looks like in your location, and how competitive wages change in your industry over time.
We know that getting applicants to pay attention to your business can be extremely challenging, and that offering competitive pay is a huge part of that. Wages aren’t everything, however! Applicant experience is another important factor that can help set you apart from your competition. A few examples include: