2018 Annual E-Report - Page 6

REGIONAL TRENDS ANNUAL UNEMPLOYMENT RATE PERCENT CHANGE UNITED STATES TEXAS 8 7.4 6.2 6.2 6 6.2 4.9 YEAR 2013 2014 4.3 4.4 5.3 5.1 2 6.0 5.5 5.3 4 COASTAL BEND 6.6 4.5 2015 4.6 4.3 2016 2017 3.7 3.7 2018 NOVEMBER LABOR FORCE PARTICIPATION RATE TRENDS 60% 59.06% 58.41% 59% 58% 56.59% 57% 56.05% 55.76% 56% 55.25% 55.33% 55.02% 55% 54.64% 54% 2013 2014 2015 2016 2017 2018 JANUARY 2018 MAY 2018 JUNE 2018 JULY What Does The Labor Force Participation Rate Indicate? According to the U.S. Bureau of Labor Statistics, it is the number of people in the labor force as a percentage of the civilian population 16 years old and over. It is the percentage of the population that is either working or actively seeking work.   While the rate in the Coastal Bend is lower today that it was five years ago, this trend is still very much in line with the overall trajectory of the Texas Participation Rate.  While many factors from an aging population to long-term unemployment could have an impact on the decrease, this measure provides new insight into the growth and sustainability of the Coastal Bend economy.   The latest Labor Force Participation Rate for the Coastal Bend region is 54.64% with Texas at 61.43%.  This was roughly 260,838 workers in the labor force out of the total working population estimated at 477,385 working-age adults.            Ž            ‚   Ž  ‚      ‘ ’ “ ƒ  Ž  ‚Š                   ­  5 WFSCB Annual Report 2018