Friday, January 24, 2014

San Antonio Economic Update January 2014 via Dallas Fed

Economic growth in the San Antonio metropolitan area slowed in 2013, partly due to weakness in federal government spending. The unemployment rate declined from 6.1 percent in December 2012 to 5.9 percent in November 2013. Job growth slowed to 1.2 percent in 2013 from 2.6 percent in 2012. In November, the most recent month of data, job growth picked up partly due to a rebound in federal government jobs, which rose to their highest levels since June. The housing market remained strong in 2013, and this strength will likely carry forward into this year.

Despite a generally sluggish economy in 2013, San Antonio went into the fourth quarter with two consecutive months of strong job growth, suggesting increasing momentum at the start of 2014. Unemployment was 5.9 percent for four consecutive months beginning in August, reflecting weak but steady household job and labor force growth. Retail sales and wages in the second quarter of last year increased faster than the national average,

Read more...San Antonio Economic Update January 2014 via Dallas Fed

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