News Release: 6/18/2018 - UNEMPLOYMENT RATE IN SAN ANTONIO-NEW BRAUNFELS MSA RISES TO 3.2 PERCENT
Workforce Solutions Alamo Releases May 2018 Job Market Information
(June 15, 2018) Workforce Solutions Alamo (WSA) released information today indicating that the unemployment rate in the eight county San Antonio-New Braunfels metropolitan statistical area (MSA) rose to 3.2 percent in May. Since this time last year, 23,300 jobs have been added, resulting in a 2.2 percent increase.
The MSA showed solid monthly growth from April to May 2018 with 8 out of 11 major industries reporting monthly gains. Education and Health Services showed the highest increase, adding 2,700 jobs (1.6%), while Financial Activity came in second with an addition of 1,000 jobs (1.1%), there was also an increase in jobs in Leisure and Hospitality with 700 jobs (0.5%), Other Services with 500 jobs (1.3%), Government added 300 jobs (0.2%), Construction added 300 jobs (0.5%), and Mining and Logging added 100 jobs (1.2%) and Manufacturing also added 100 jobs (0.2%). In contrast, Professional and Business Services jobs fell by -700 (-0.5%) but continues to report positive annual growth with 3,400 jobs (2.6%), Trade Transportation and Utility lost -200 jobs (-0.1%) with an annual change of 1,700 jobs (0.9%), Information lost -100 jobs (-0.5%) and showed an overall annual loss of -800 jobs (-3.8%) since May 2017.
Comparing the Workforce Solutions Alamo metro area to the state and nation, the Texas seasonally unadjusted (actual) unemployment rate decreased to 3.7 percent in May, down from 3.8 reported in April. The nation’s unadjusted (actual) unemployment rate decreased to 3.6 percent, down from 3.7 percent reported in April. Summarizing the seasonally adjusted unemployment rates for the state and the nation, Texas held steady at 4.1 percent in May, the same rate reported in April, while nation’s unemployment rate decreased to 3.8 percent in May, down from the 3.9 percent rate reported in April.
The mission of Workforce Solutions Alamo involves working to strengthen the Alamo regional economy by growing and connecting talent pipelines to employers. Workforce Solutions Alamo reaches over 8,000 businesses and more than 2.0 million residents in the City of San Antonio and the counties of Atascosa, Bandera, Bexar, Comal, Frio, Guadalupe, Gillespie, Karnes, Kerr, Kendall, McMullen, Medina, and Wilson counties. For more information on available workforce programs and services, visit our website at www.workforcesolutionsalamo.org.
Note: Only the actual/unadjusted series unemployment rate estimates for Texas and the US are comparable to sub-state unemployment rates. Adjusted rates are calculated by smoothing out the changes in unemployment due to the typical seasonal hiring and layoffs. Rates reported are estimates and changes in previously reported rates can occur with BLS readjustments.