Native nonfarm employment elevated by 0.23% in November, and was 4.9% decrease than the November 2019 determine. Native actual taxable gross sales elevated 2% from October to November however have been 6.7% decrease than the identical month final 12 months. The index runs with a lag time of roughly two months.
Solely Amarillo had a decrease unemployment fee amongst Texas metro areas in November, based on Bureau of Labor Statistics information. Notably, Jansen mentioned, the Austin-Spherical Rock metropolitan space’s unemployment fee was 6%, the third-lowest fee in Texas. He mentioned the Austin economic system has been robust and that often such a big metropolitan space doesn’t often rank so nicely in Texas.
The nationwide unemployment fee was 6.7% as of December, based on the Bureau of Labor Statistics.
Weekly unemployment insurance coverage claims for the realm, although nonetheless a lot decrease than early-pandemic figures, have been larger in December and January than in October or November. Rettenmaier mentioned 598 claims have been filed within the first two weeks of January mixed, the very best numbers because the first week of September.
Gross home product information on the county and metro space ranges are launched with a lag time of 1 12 months, Rettenmaier defined, so 2019 figures have been unveiled lately. In 2019, the economists mentioned, Brazos County accounted for 68% of all financial exercise within the three-county metro space, producing $9.63 billion of the MSA’s $14.2 billion whole GDP.