Page 16 - April 2024 Builder Brief

ECONOMY
SAN ANTONIO'S UNEMPLOYMENT RATE RISES TO 4.1% IN FEBRUARY Construction sector shows monthly gains
The Texas seasonally adjusted unemployment rate registered 3.9 percent for the ninth consecutive month in February. The rate declined annually by one tenth (0.1) of a point from the rate of 4.0 in January 2023.
The U.S. seasonally adjusted unemployment rate rose by two tenths (0.2) of a point over the month to a rate of 3.9 percent from 3.7 percent in January 2024, and three tenths (0.3) of a point annually to 3.9 percent from the February 2023 rate of 3.6 percent.
Jobs in the San Antonio-New Braunfels Metropolitan Statistical Area
Since February of 2023, 29,400 jobs were added to
the MSA, resulting in an annual increase of 2.6 percent.
Eight of eleven major industries showed monthly gains: The industries with the largest monthly gain were Government, Leisure and Hospitality, Professional and Business Services, Private Education and Health Services, Construction, Manufacturing, Financial Activities, and Other Services. Mining and Logging, followed by the Information industry remained steady. Most industries achieved a positive annual growth rate.
Monthly job loss occurred in one industry, Trade Transportation and Utilities; however, this industry achieved a positive annual growth rate.
16 APRIL 2024 | GREATER SAN ANTONIO BUILDERS ASSOCIATION
TEXAS
14,629,593
4.4
15,295,668
666,075
Labor Force
METRO
1,254,334
4.1
1,308,033
Employment
WDA
1,307,234
53,699 4.1 1,362,910
Unemployment
55,676
SAN ANTONIO-NEW BRAUNFELS METRO 4.1 UNEMPLOYMENT RATE IS LOWER THAN 4.4 REPORTED FOR THE STATE AND RANKS 2nd LOWEST AMONG THE LARGE METRO AREAS
3/22/24
Unemployment rates increased for most counties in February except for McMullen with no change.
Converse has the lowest unemployment rate among the area cities.
Atascosa Bandera Bexar Comal Frio Gillespie Guadalupe Karnes Kendall Kerr McMullen Medina Wilson
4.0 4.4
3.7 4.1
4.1 3.8
4.1 3.8
3.5 3.9
2.6 3.0
3.5
3.2 3.5 3.6
3.4
3.6 4.0
4.3 4.0
3.5 3.2
Cibolo Converse New Braunfels San Antonio Schertz Seguin
3.4 3.8 3.43.7
3.5 3.9
Dallas-Fort Worth- Arlington
4.2
2.0 2.0
February Rate
February Rate
4.0 3.7
4.1 3.8
4.5 4.3
January Rate
January Rate
3.9
Austin-Round Rock 3.7
4.1
San Antonio-New Braunfels
Houston-The Woodlands- Sugar Land
4.6
Source: Texas Workforce Commission/LMCI/LAUS
Workforce Solutions Alamo is an equal opportunity employer/program. Auxiliary aids and services are available upon request to individuals with disabilities. Texas Relay Numbers: 1-800-735-2989 (TDD) or 1-800-735-2988 (Voice) or 711.
The Local Area Unemployment Statistics (LAUS) program produces monthly and annual employment, unemployment, and labor force data for Census regions and divisions, States, counties, metropolitan areas, and many cities.