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Unemployment rate continues to decline Total non-agricultural jobs increase by 1,700

Courtesy Workforce Solutions Alamo

Workforce Solutions Alamo released information in late December indicating that the San Antonio-New Braunfels metro area (SA MSA) job market experienced job gains from October to November as Total Nonagricultural Employment increased by 1,700 jobs (0.2 percent) to 877,100. Retailers contributed the largest number of jobs to the metro region adding 4,700 jobs over-the-month. While job growth continued in November, the SA MSA unemployment rate continued to decrease to 5.6 percent, down from 6.0 percent registered in October.
"When they say the unemployment rate drops because people drop out of the labor force that just isn't the case here in the Alamo region" said Patrick W. Newman, Executive Director - Workforce Solutions Alamo, "We have 10,000 more people in our labor force than we did at this time last year, and we have 22,000 more people employed than we did at this time last year."
Other job gains occurred in Government reporting 1,100 jobs (0.7 percent) between October and November, and a positive annual gain of 2,000 jobs (1.3 percent). Other Services added 300 jobs (0.9 percent) over-the-month and reports an annual gain of 500 jobs (1.6 percent).
Most industries report job losses at this time with the largest losses happening in Leisure and Hospitality reporting -1,700 jobs (-1.5 percent), yet reports the largest gains over-the-year with 8,300 jobs (8.0 percent). Construction dropped -300 jobs (-0.7 percent), but reports annual gains of 1,700 jobs (4.0 percent). Professional and Business Services lost -400 jobs (-0.4 percent) since October, but rebounded after huge losses with annual gains of 4,600 jobs (4.7 percent), the second greatest industry gain.
Financial Activities dropped -1,400 jobs (-2.0 percent) between October and November, and is one of only two industries reporting annual job losses at -800 jobs (-1.1 percent), and the Information industry being the other reporting -300 jobs (-1.7 percent) over-the-year.
Comparing the Workforce Solutions Alamo metro area to the state and nation, the Texas unadjusted (actual) unemployment rate decreased to 5.8 percent in November, down from 6.2 percent in October. The nation's unadjusted (actual) unemployment rate also decreased to 7.4 percent in November, down from 7.5 percent reported in October. Comparatively, the state and nation release seasonally adjusted unemployment rates with Texas decreasing to 6.2 percent in November and the nation's unemployment rate decreasing to 7.7 percent.

Pictured: Comparison of area county unemployment rates for Nov. 2012.