May 14, 2019 Comments Off on Strong Job Market Drives El Paso Business-Cycle Index Views: 121 Texas - Other, Texas News

Strong Job Market Drives El Paso Business-Cycle Index

El Paso’s Business-Cycle Index increased by an annualized 2.7% in March 2019. According to the Federal Reserve Bank of Dallas, the increase was fueled, in part, by a strong job market in the West Texas city. El Paso employment expanded by 2.6% annually, with most of the major sectors posting job gains, the Dallas Fed Noted.

Existing home sales were 8,397 in March (on an annualized basis), which was an increase from February 2019, but down from its most recent peak of 8,882, reported in August 2018. The Dallas Fed analysts indicated that the median home price of $157,694 had increased 2.4%, year over year.

Annualized total trade through the El Paso Port of Entry totaled $79 billion in February 2019, representing a 2.8% decline from the year before. Total trade slowed because of a decline in imports, which dropped by 5.1% to $46.6 billion, Meanwhile, exports increased 0.8% annually, totaling $32.4 billion.

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