Austin continues to enjoy positive job growth and the area’s strong wages underscore the dynamism of the local economy. Local wage growth, however, has slowed significantly over the past few years. Between 2005 and 2006, for example, wages in Austin jumped 5.3%. According to the most recent data available, however, the average private sector wage in Austin grew just 1.7% in 2007 and 2.2% in 2008. Still, Austin's average wage of $47,750 remains approximately 7% higher than the U.S. average. Wages increased across all industries, from traditionally low-wage sectors such as the arts to high-wage industries such as professional services and information.