ECONOMIC SNAPSHOT
A Summary of the Brownsville MSA’s Economy JULY 2014
UNEMPLOYMENT
EMPLOYMENT Nonagricultural Employment in Brownsville MSA expanded by an estimated 500 positions.
In May unemployment rate increased by one-tenth of a percentage point to a rate of 8.3 percent.
4 of the 10 major industries showed employment increases over the month.
This month was the second unemployment rate increase for Cameron County this year. However, the last time Brownsville experiment rates below 8% were in 2008.
Total employment ended May at an estimated level of 136,400 jobs, and increase of 2,400 jobs over the year.
The Texas unemployment rate increased by fourtenths; the national unemployment rate also experienced an increase by two-tenths during the month of May.
The annual growth rate for the employment series climbed to 1.8 percent in May.
Brownsville MSA - July 2014
Trade, Transportation, and Utilities Information
3% 4% 3%
23%
Financial Activities
18% 1%
11%
8% 25%
4%
Professional and Business Services Education and Health Services Leisure and Hospitality Other Services
Brownsville-Harlingen Unemployment Rate 10
Percentage
Industry Composition
Mining, Logging, and Construction Manufacturing
9.5 9 8.5 8 7.5 7
Series1
Nov-13 Dec-13
Jan-14
Feb-14 Mar-14 Apr-14 May-14
Nov-13 Dec-13 9.6 9.4
Jan-14 9.7
Feb-14 Mar-14 Apr-14 May-14 9.8 8.8 8.1 8.2
Government
TRADE ACTIVITY
Source: Texas Workforce Commission
The total trade activity in Cameron County for the year 2013 was $15 billion, averaging $41 million per day of trade in our local border.
BUILDING PERMITS 2014 YTD total number of residential units for Brownsville MSA has been 430, compared to last year that is a 9.3% increase. This past May 2014 the number of building permits for residential units was 94, the average value per dwelling unit was $90,200. Source: Rio Grande Valley Partnership – Business Barometer
In May 2014 the total U.S. exports and imports trade activity for Cameron County was $1.3 billion. During the 12 months ending in May 2014, the total number of trade activity for Cameron County has been $16 billion. Note: Unadjusted U.S dollars Source: Texas Center for Border Economic and Enterprise Development
For more information regarding this issue of Economic Snapshot, please contact: Daniela Sosa at dsosa@bedc.com Brownsville (TX) Economic Development Council I ph: 956.541.1183 I www.BEDC.com