AQUA BOOK 2016 - Page 21

According to EMSI’s data, about 10,600 adults in Corpus Christi were unemployed during 2015. Nearly one in five (16%) of them were new entrants to the workforce with no previous work experience. A breakdown of the number of unemployed by industry would help us better understand the extent of slack in our local labor market. No Previous Work Experience 16% Crop & Animal Production 0% Mining & Oil & Gas Extraction 13% Utilities 0% Government 4% Other Services 4% Construction 13% Accommodation & Food Services 6% Manufacturing Arts, Entertainment, & 8% Recreation 1% Health Care & Social Assistance Wholesale Trade 7% 2% Educational Services Retail Trade 1% 8% Administrative & Support 5% Transportation & Information Warehousing Management of Companies & Professional, Scientific & 1% 3% Enterprises Technical Services 0% 4% Real Estate & Rental & Leasing Finance & Insurance 2% 2% Source: EMSI, 2015Q4. . . . the impact of the declining oil industry was evident. The impact of unemployment in a particular industry on the entire local economy depends on the size of that industry. In the past year, the impact of the declining oil industry was evident. Some 1,400 people previously working in the mining industry, including oil and gas extraction, were unemployed. Together they accounted for 13 percent of the total number of unemployed locally, more than double that in the previous year. The concentration of unemployed individuals in the local oil and gas industry was also relatively high in comparison with the broader South Texas region. Given the ongoing construction boom in Corpus Christi, it seems counterintuitive that the construction industry was responsible for a share of local unemployment equal to that of the mining industry. Even though the unemployment rate among construction workers was only one-third that of the mining industry, the size of the construction sector by employment was second only to health care sector. A 6-percent unemployment rate for the construction workforce translates into more than 1,350 unemployed people. In fact, the number of unemployed in the construction industry reduced by more than 100 between 2014 and 2015. Other than unique characteristics of its workforce, the temporary or cyclical nature of that industry was responsible for its relatively high unemployment level. Annual Review of South Texas Economy CORPUS CHRISTI LABOR MARKET Corpus Christi Unemployment by Industry 19