The Bryan-College Station economy continues to grow despite national fears of an economic slowdown, according to a local index that measures a number of indicators and factors.
The unemployment rate in the Bryan-College Station metro area has reached an all-time low at 2.8%, according to a locally produced index that measures a number of economic factors and indicators.
The College Station-Bryan Business-Cycle Index, which is released monthly by the Private Enterprise Research Center at Texas A&M, grew by 0.47% between April and May, a robust annualized rate of 5.8%. The index has a lag time of about two months.
The monthly report also shared data suggesting that the B-CS metro area has a lower percentage of residents 65 or older than any other large metropolitan area in the state.
– By Kenny Wiley, The Eagle
Read the Full Story: Bryan-College Station jobless rate falls to record low 2.8%
The Chamber of Commerce’s annual Inside BCS all-day event Wednesday gave community members and local business leaders a chance to learn more about K-12 education, higher education, local and county government, economic development, health care, communication and criminal justice in the area.
Brazos Valley Economic Development Corporation President and CEO Matt Prochaska noted during the economic development discussion that a Belgium company called the triangle “magic.”
With a $22.6 billion gross market value in 2017 — and the 2018 numbers still to come — and a historic low unemployment rate of 2.8%, he said, the area is being included in benchmarks with Houston, Dallas, Austin and San Antonio like never before, attracting national and international attention.
Read the full story:
The Bryan-College Station area’s economy continues to hum along, according to an index that measures a number of economic factors and metrics.
The metro area’s unemployment rate, at 2.9 percent, is tied for the lowest rate of the century in the rapidly growing region. Employment has neared an all-time high of about 120,000 jobs
The College Station-Bryan Business-Cycle Index, released monthly by Texas A&M University’s Private Enterprise Research Center (PERC), attempts to reflect the current state of the economy.
May 18, 2018
AUSTIN ⎯ The Texas economy added 39,600 seasonally adjusted nonfarm jobs in April, which marked 22 consecutive months of employment growth. Over the year, Texas added 332,300 jobs for an annual employment growth rate of 2.7 percent in April. Private sector employers added 37,900 positions over the month. Texas’ seasonally adjusted unemployment rate was 4.1 percent in April, up slightly from 4.0 percent in March.
Midland Metropolitan Statistical Area (MSA) recorded the month’s lowest unemployment rate among Texas MSAs with a non-seasonally adjusted rate of 2.1 percent, followed by the Amarillo MSA, which had the second lowest with a rate of 2.6 percent. The College Station-Bryan MSA recorded the third lowest rate of 2.7 percent for April.
“Texas employers continue to boost the impressive Texas economy by adding 39,600 jobs in April and 332,300 jobs over the year,” said TWC Chairman Andres Alcantar. “Our state’s ongoing trajectory of success is linked to the innovation and competitiveness of employers in a range of industries providing workers more opportunities to demonstrate their world-class skills.”
The Manufacturing Industry recorded the largest private-industry employment gain over the month with 8,600 jobs added. Professional and Business Services employment grew by 7,500 jobs in April, followed by Education and Health Services with 6,200 jobs.
“Texas employers added 327,500 jobs over the past year, making our state’s annual private-sector employment growth 3.2 percent for April, up from 2.9 percent in March,” said TWC Commissioner Representing Employers Ruth R. Hughs. “It’s no surprise that CEOs ranked the Lone Star State as the Best State for Business for the 14th consecutive year in a row. These numbers are a testament to the perseverance and resilience of our Texas employers and the diversity of our Texas economy.”
“The Texas labor force is now approaching 14 million and has continued to provide employers with the skills and expertise needed to keep the Texas economy growing,” said TWC Commissioner Representing Labor Julian Alvarez. “TWC and the 28 local workforce development boards are committed to connecting Texas workers with available jobs.”
Audio downloads with comments from Commissioner Hughs on the latest labor market data are available on the TWC website press release page. Employment estimates released by TWC are produced in cooperation with the U.S. Department of Labor’s Bureau of Labor Statistics. All estimates are subject to revision. To access this and more employment data, visit tracer2.com.