June 27, 2017
The San Antonio unemployment rate fell to 3.8% in May 2017, far below Texas’ rate of 4.8%, and the national rate of 4.3%. The number represents the Alamo City’s lowest unemployment rate to date in 2017, according to data from the Federal Reserve Bank of Dallas.
Even with the unemployment rate down, however, the labor force growth rate was somewhat sluggish at 1%, compared to the 3.2% at the same time in 2016. Though growth was positive across most of the sectors, “a significant slip in retail hiring has led to declines in the trade, transportation and utilities sector,” the Fed analysts noted. The construction sector saw growth, as did the manufacturing, professional services and health care areas.
Home prices rebounded in April 2017, with the median price at $209,137. The metric represents a 3.1% increase year over year, as home sales remain near all-time highs, and inventories near all-time lows.
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