San Antonio Economic Update March 2015 via Dallas Fed

The San Antonio economy continued to expand moderately in January. Nonfarm payroll jobs grew at an annual rate of 3.1 percent, outpacing the state by over a percentage point. Unemployment ticked up slightly to 4 percent, though it remains near postrecession lows. While oil and gas activity has begun to dampen state job growth, San Antonio is unlikely to see as sharp a slowing despite its proximity to the Eagle Ford Shale.

Growth in the San Antonio Business-Cycle Index remained steady at a 6.4 percent annualized pace over the six months through January. Although growth has moderated slightly since peaking in mid-2014, continued declines in the unemployment rate and strong job gains over the second half of 2014 helped the index maintain a high growth rate.

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