San Antonio Economic Update May 2014 via Dallas Fed

The San Antonio economy accelerated in April. The unemployment rate fell to 4.8 percent, 0.4 percentage points below the state and 1.5 percentage points below the nation. Private employment growth was strong, particularly in business and professional services, while government jobs declined. New building permits remained steady in March and construction employment grew moderately in April, but housing starts weakened and continue to lag behind the state as a whole.

The San Antonio Business-Cycle Index continued to accelerate, primarily due to a continuing decline in the unemployment rate. The six-month growth rate increased from 4.5 percent in March to 4.8 percent in April, the highest rate in nearly a year. Overall, the San Antonio economy continues to track above trend when compared with the 10-year annual growth rate of 3.4 percent.

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