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