AQUA BOOK 2016 - Page 20

Unemployment Rate by Industry 0% 5% 10% 15% 20% 25% Crop & Animal Production Mining & Oil & Gas Extraction CORPUS CHRISTI LABOR MARKET Utilities 18 South Texas Construction Manufacturing Corpus Christi Wholesale Trade Retail Trade Transportation & Warehousing Information Finance & Insurance Real Estate & Rental & Leasing Professional, Scientific & Technical Services Management of Companies & Enterprises Administrative & Support Educational Services Health Care & Social Assistance Arts, Entertainment, & Recreation Unemployment is not evenly distributed across industries. . . Accommodation & Food Services Other Services Government Corpus Christi Average Source: EMSI, 2015Q4. In 2015, the average unemployment rate was 5 percent for the Corpus Christi metro area. For the 41-county region of South Texas, the average unemployment rate was higher at 6 percent. Unemployment is not evenly distributed across industries, so it would be instructive to identify the soft spots in the labor markets. A breakdown of unemployment by industry in 2015 clearly shows the impact of the recent oil market collapses on the regional labor markets. Nearly one in five people previously working in South Texas’s oil fields were unemployed. The manufacturing sector also had relatively more workers claiming unemployment due in part to recent layoffs among equipment suppliers for oil operators. On the contrary, employees in the service industries tended to be less likely to become unemployed. Annual Review of South Texas Economy