A strong Texas Economy

A Strong Texas Economy According to the Real Estate Center in College Station, Texas is fairing better than much of the nation with employment rates. Texas employment rates have increased by 2.4% over the past twelve month period while national employment rates have decreased by 0.1% over the same twelve month period. Additionally, Texas adjusted unemployment rates are sitting at 4.7% while adjusted national unemployment rates are a whole percentage point higher at 5.7%. Higher oil prices have helped contribute to these numbers as the mining industry in Texas has caused the highest number of new jobs in our state. Additional industries creating new jobs in Texas are professional and business services, construction, leisure and hospitality, education and health services, much of which you can see obvious growth within San Antonio itself. As we’ve talked about in previous blogs, there is still quite a bit of interest in San Antonio for many new businesses due to the infrastructure of our city. Increased employment rates mean more money in circulation which in turn means a higher confidence rate in our local economy. All of these factors help contribute to a quicker recovery in the local housing market and a more positive outlook for the months and years to come.