Metro San Antonio Unemployment Falls as Economic Growth Continues

Job Growth Spurs Drop In Unemployment Rate To 4.7 Percent

The San Antonio metro area added more than 3,000 new jobs in July, pushing the region's unemployment rate to 3.7%, close to a record low, News Radio 1200 WOAI reports.

The number would have been even lower, but economist Ray Perryman says the economy absorbed thousands of people moving here due to the strong economy.

"That's a reflection of the fact that the work force continues to expand in Texas, which is a very important asset looking forward," Perryman said.

The statewide employment rate fell to 4.3%, again falling below the national average.

 The statewide unemployment rate is again below the national average, after spending a period above the national rate due to the oil bust.

Other metros in Texas are also experiencing low unemployment.  The Austin unemployment rate is 3.2%, it's 3.5% in College Station and 2.9% in Abilene, indicating strength in markets large and small.

Houston's jobs picture is improving, but the city continues feeling the after effects of the oil bust, with an unemployment rate of 4.9%.

Even the Rio Grande Valley, which routinely reports unemployment in double digits, is showing strength, a result, largely, or fewer people coming into the U.S. in search of jobs.

And Perryman says the state's jobs picture is changing, and moving toward more high skills, high education jobs.

"The services industries continue to dominate in job creation," he said.San Antonio is also seeing strength in health care, business services, and, due to the summertime, leisure and hospitality.

"Several goods producing industries are showing strength in Texas, including manufacturing," said Texas Workforce Commissioner Julian Alvarez.

Strength is also seen in financial activities, and in mining and logging, the sector which contains the oil and gas industry, which saw robust growth over the past year.

12,326,000 Texans are now employed full time, up nearly 300,000 from July of 2016, representing a strong  2.4% annual job growth.

Similar growth is seen in Metro San Antonio, with 1,112,000 people now employed full time, up from 1,096,500 one year ago.

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