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SA Unemployment Rate Falls Again, Approaching Six Year Low

SA Unemployment Rate Falls Again, Approaching Six Year Low

  The San Antonio and Texas economies continue to surge, as the eight county Metro San Antonio unemployment rate fell to a six year low of 5.6% in November, 1200 WOAI news reports.

 

  "The Alamo region work force has grown by 16% in the last ten years," said Patrick Newmann, the executive director of Workforce Solutions Alamo.  "The ability to keep up with labor force growth with jobs n our region is indicative of the multiple industries we have that provide job opportunities."

 

  According to figures released by the Texas Workforce Commission, the drop in the metro unemployment rate came despite a rise in the size of the total work force to a near record 1,030,000 people.  That means that, unlike a lot of places, where the unemployment rate is falling because individuals are leaving the work force, that is not the case in the San Antonio area.

 

  The Eagle Ford and related energy industry occupations continue to be strong job creators, but retail trade, transportation and utilities and government also added jobs.

 

  The increase in jobs comes despite seasonal losses in hospitality jobs, as well as in construction, although both fields are well ahead of job numbers of November 2012.

 

  Governor Perry pointed out that job growth was strong across the state in November.

 

  "What all these great unemployment statistics really add up to, our lowest unemployment rate in nearly five years, a declining unemployment rate for four consecutive months, and more than a quarter million jobs added since this time last year, is that Texas is creating jobs and opportunity," Perry said.

 

  Metro San Antonio added more than 7,000 jobs since October of 2013, and more than 9,000 since November of 2012, according to the TWC.

 

  Economists generally consider unemployment of 4% to 4.5% to be 'full employment,' due to the routine churn in the economy, which includes people between jobs, people who are on health and family leaves, and women who are on maternity leave.

 

 

 

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