AQUA BOOK 2014 - Page 19

Jim Wells County BY THE NUMBERS 2013 Population 42,280 Employment 24,601 Unemployment Rate 4.9% Wages Per Employee $55,240 Average Personal Income $48,306 Sales Volume ($ mil) 2,986 New Home Value $107,800 — % National Average 48% Jim Wells county Employment Growth has undergone 15% considerable economic growth 10% in association with the oil boom in 5% South Texas. The economy revved 0% up rapidly after the 2008 2009 depths of the last -5% economic slump in 2009. Since 2010, -10% nearly 2,500 jobs have been created in support of oil and gas extraction. In 2013, the county’s unemployment rate fell below 5 percent. Wages and income growth among Unclassified Industry 0.0% Unemployment Rate 10 Texas 6 4 2010 2011 2012 2013 2 0 2008 2009 2010 2011 2012 2013 residents in the county were more than twice those of the rest of the nation. Agriculture 1.1% Government 10.7% Mining 24.6% Utilities 0.2% Jim Wells county’s economy underwent sharp expansion for two years after 2009. Employment growth peaked in late 2011 with year-over-year growth rates over 10 percent. With the local labor market approaching full capacity and unemployment falling below 5 percent, the pace of employment growth has slowed down recently. By the end of 2013, the growth trend had reversed to negative. Construction 2.1% Health Care & Social Assistance 20.5% Manufacturing 3.5% Retail Trade 8.1% Administrative & Support 1.8% Professional & Real Management Scientific Estate & Finance & of Businesses Rental Insurance Services 0.9% 1.9% 2.7% 1.9% U.S. 8 Arts & Recreation 0.3% Educational Services (Private) 0.3% Change From 2008 4.3% 13.7% 0.6% 37.8% 40.3% 103.6% 2.5% 12 Industry Composition by Employment, 2013 Other Services (except Public Admin) 1.7% Accommodation & Food Services 6.6% Change From 2012 1.3% 1.4% 0.0% 5.2% 10.0% -19.5% 0.0% Wholesale Trade 7.0% Information 0.3% Transportation & Warehousing 3.9% Annual Review of the South Texas Economy – 2014 Edition | 17