The metro San Antonio unemployment rate has dipped below 3% as the local and statewide jobless rates are hitting record lows, News Radiop 1200 WOAI reports.
The eight county San Antonio metro unemployment rate in October was 2.9%, as a growth of 26,000 new jobs far outpaced the growth of 16,000 in the local work force.
Most economists consider any unemployment rate under 4% as 'full employment,' due to the normal churn in the workforce, including people in sabbaticals, family and maternity leave, or between jobs voluntarily.
The Texas economy reported growth in almost all of the eleven economic sectors measures, with strong gains in oil and gas, leisure and hospitality, and construction.
The only sectors were jobs are down are information and a slight dip in manufacturing.
More employers agree that one of the biggest challenges they have today is an inability to find qualified workers to find jobs that are available.
Statewide, the unemployment rate of 3.9% is the lowest in Texas history.
“This resiliency is a testament to the diversity of our economy and the strength of our workforce," Gov. Greg Abbott said. "As governor, I will continue to promote policies that allow businesses to thrive and keep Texas the best state in the nation to do business.”