America's economy is definitely growing again, as was evident in the recent reports on GDP and service-sector growth. At the same time, the renewed growth just isn't creating enough jobs or wage increases to really bring confidence back to Main Street, as we saw with the latest jobs report.
But stagnant job growth and frozen pay isn't the case in every industry. In fact, one booming American sector is not only fueling job creation but is also creating new wealth at an extraordinary scale and pace: fracking and the shale oil/natural gas industry.
Without fracking, there's a good chance that almost no net new jobs would have been created in the U.S. over the past five years. The industry currently supports nearly 10 million jobs, and the wages far outpace the median salaries nationwide.
Fracking success has, of course, attracted the usual anti-capitalist...