Economic growth in San Antonio held steady in August. Jobs grew at an annualized 1.5 percent, contrasting with a 0.4 percent contraction in the state. The unemployment rate was unchanged at a low 3.5 percent, and indicators of labor demand suggest a continued tight labor market across many industries in the short term. While weakening growth in Texas due to a renewed fall in oil prices is likely to indirectly dampen growth in San Antonio, the metro area should maintain its growth advantage over the state.
San Antonio Business-Cycle Index growth decelerated slightly to a 5.6 percent annualized rate in August. Moderation in the month’s job growth and the steady unemployment rate contributed to this decline, although index growth remains over 2 percentage points above its long-term average.
Read more...San Antonio Economic Update September 2015 via Dallas Fed