San Antonio Unemployment Rate Drops As Local Businesses Start Hiring Again
Businesses are hiring again, according to a recent express news article reporting on local Federal Reserve statistics. According to the report, the number of employed in San Antonio last month reached its highest level in almost 21/2 years. The report stated that the San Antonio metropolitan area added 5,800 jobs last month, bringing the total nonfarm payroll to 852,900.
Employment in the San Antonio area is accelerating — growing at an annualized clip of 2.8 percent so far this year, up from 1.4 percent in 2010. The seasonally adjusted unemployment rate, which is calculated with different data than that used for determining the size of the area's payroll, actually rose to 7.4 percent last month from 7.3 percent in both February 2011 and March 2010. The uptick may reflect more people resuming their search for work.
Texas, meanwhile, added 37,200 jobs last month, dropping the state's unemployment rate to 8.1 percent — the lowest since July.
