AQUA BOOK 2016 - Page 12

Unemployment Rate Comparison (Seasonally Adjusted %) DIVERGING REGIONAL DEVELOPMENTS 7 South Texas Texas U.S. 6 . . .deterioration in labor market conditions has varied widely among metro areas. 5 4 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun | 2014 | 2015 Source: TAMU Real Estate Center. Within South Texas, deterioration in labor market conditions has varied widely among metro areas. While movements of their employment growth tended to parallel each other historically, the effects of the recent economic slowdown have been more apparent for some areas than others. Year-over-year employment growth for Brownsville turned negative as early as March 2015, while San Antonio’s labor market has continued to expand albeit at a slower pace. There is a definite unevenness to the impact of the oil price declines. Areas heavily invested in extractive services of the oilfields have been significantly impacted. Areas focused on midstream and downstream oil processing have been less negatively impacted. Larger areas with much more diversified economies have been the least impacted of all. Employment Growth in South Texas (Year-over-Year % Change) Brownsville 4% Corpus Christi McAllen-Edinburg Laredo San Antonio 2% 0% Jan Feb | 2014 Mar Apr May Jun Source: TAMU Real Estate Center. -2% 10 Jul Aug Sep Oct Nov Dec Annual Review of South Texas Economy Jul Aug Sep Oct Nov Dec Jan Feb | 2015 Mar Apr May Jun Jul Aug Sep Oct Nov Dec