Unemployment rate continues decline
May 23, 2015 - fall Denim
Fueled by a healthy economy via a region, a stagnation rate continues to urge via a South Plains, according to labor statistics expelled Friday.
For Hale County, a jobless rate for Apr fell to 6.1 percent from 6.8 percent a month earlier. That’s a lowest given Nov 2012 when it was 6.0 percent dual months before Cargill.
All 6 counties within a Herald’s dissemination area saw declines in their jobless rate from Mar to April, with Castro County a lowest during 3.2 percent, followed by Briscoe, 3.6; Swisher, 4.3; Floyd, 5.2; and Lamb, 8.0 percent.
“The economy is clever and healthy for a whole South Plains region,” reports Danny Soliz of Lubbock, executive of business enlargement for South Plains Workforce Solutions.
Job enlargement in a area was led by a convenience and liberality industry, that combined about 500 workers, followed by 400 in trade, travel and utilities. “There’s jobs accessible out there, that means many of a folks returning from a oil patch are anticipating work. The salaries might not be as high, though they are working.”
Soliz records that a jobless rate in Lubbock went down to 3.0 percent in April. “Some employers are carrying difficulty anticipating learned labor, and many pursuit seekers are means to find positions that they are happy with.”
He records that Lamb County saw a stagnation rate tumble from 8.6 to 8.0, notwithstanding a new shutting of a denim mill. “Once we get a windmills up, there’s will be some jobs with good salaries as well,” he notes.
Mike Fox, executive executive of a Plainview/Hale County Economic Development Corporation, adds, “With a Hale County Apr stagnation rate dropping some-more than a full commission indicate given Feb of this year it means that jobs are accessible to those seeking work. The series that concerns me is a slight dump in sum workforce numbers from final month. Hopefully that series will arise as internal workers forced to find practice in a oil and gas producing regions come behind to a area due to a mercantile slack in that industry. There is denote that a breeze appetite zone could benefaction many of those people with practice opportunities.”
Dr. Charles Starnes from Wayland’s School of Business adds, “It’s good to see Hale County’s stagnation rate during 6.1 percent, though it’s some-more profitable to demeanour during how it got there. we did a comparison of Apr 2013, dual months after a Cargill closure when a stagnation rate was 15 percent, to a stream Apr 2015 measure. In those dual years, Hale County’s labor force declined 1,714, an 11.6 percent decline, while there was a 2.4 percent decrease in jobs of 304. Because a labor force forsaken some-more than a series of jobs, a stagnation rate declined as well. We now have usually 801 unemployed, a solid alleviation for several months. Plainview’s stagnation rate is improved now that in a year before to a Cargill closure.
“I also looked during a 6 counties before and after a recession. The retrogression that strike a U.S. in a summer of 2008 didn’t have most impact on a area’s practice until a finish of 2009. Jobs in Briscoe County have depressed 8 percent given 2009, Floyd County forsaken 4 percent, Lamb County forsaken 15 percent, Swisher County mislaid 19 percent of a jobs, and Hale County mislaid 22 percent. Only Castro County showed a benefit with 6 percent some-more jobs than before a recession.
“The new Herald essay ‘Area race declines as state grows’ (May 22) suggests a prejudiced reason for a disappearing labor force. A smaller race means a smaller labor force. Still, Hale County is display a healthy labor design that continues to proceed a pre-recession years of 2001-09 when stagnation averaged about 5.2 percent. We still have to continue mercantile enlargement efforts including building a new industrial park, demonstrating opportunities to new employers, and enlivening enlargement of existent companies. We can design a brief tenure swell in area jobs as breeze turbine construction picks up, though that will final usually until they’re built.”
The state stagnation rate remained solid during 4.2 percent in April, down a full commission indicate from 5.2 percent a year ago. Texas continues to trend good next a inhabitant stagnation rate of 5.4 percent.
For a second uninterrupted month, a Amarillo boasted a lowest stagnation rate in a state with a 2.7 percent not seasonally practiced rate in April. The Midland MSA had a second lowest rate for a month during 2.9 percent, followed by a Austin-Round Rock and Lubbock MSAs, any of that posted a rate of 3.0 percent.