Labor Market Intelligence
The historical unemployment rate for April 2020 increased to 15.4%, up 9.0% over the month and 11.8% over the year for the Coastal Bend region. This increase is a direct result of COVID-19 that drastically affected the nation and specifically, the Coastal Bend region in April of 2020. As a result, over 36,000 people were out of work in April according to the latest Labor Market Report.
The impact of the COVID-19 Pandemic is greater than any economic crisis in recent history. Comparatively, during the Economic Crisis of the Early 1990’s, unemployment reached an all-time high of 11.5% in June of 1992 with over 27,000 people out of work in the Coastal Bend region. By contrast the most recent Great Recession of the late 2000’s resulted in job losses in the key Oil and Gas industry that affected the Coastal Bend directly. As a result unemployment rates rose to 8.5% in June of 2009 and continued to peak into 2011 with nearly 24,000 out of work in June of 2011.
According to preliminary data from the new Texas Workforce Commission Unemployment Insurance (UI) Claimant Dashboard, the industries most affected by COVID-19 were the Full-Service Restaurants and Support for Oil and Gas Operations Industries in the Coastal Bend. The continued economic impact of COVID-19 should continue well into the summer of 2020 even as social distancing measures are potentially loosened in the coming weeks and months.
As businesses begin to reopen and prepare for a new way of doing business, initiatives such as the Shared Work Program and Skills Development Fund Grants are readily available to employers. Workforce Solutions of the Coastal Bend (WFSCB) can assist employers in retaining or upskilling their current and future workforce with localized training opportunities at regional colleges, universities and vocational training centers. For more information on the services WFSCB can provide for your business, contact the Business Services Unit at (361) 882-7491 ext. 365 or visit the WFSCB COVID-19 Resources page.
Labor Market Information Definitions
Not Seasonally Adjusted (Actual) – Data has not been subjected to the seasonal adjustment process. In other words, the effects of regular or seasonal patterns have not been removed from these series. Not seasonally adjusted data is available for smaller geographies, where seasonally adjusted is only available down to the state level. Use this data to view raw numbers, and for geographies smaller than state level.
Seasonally Adjusted – Total employment and unemployment vary throughout the year. For example, higher unemployment in January and February isn’t uncommon because of work in agriculture, construction and other seasonal industries slowing down. Also, both employment and unemployment rise every June, when students enter the labor force in search of summer jobs. Seasonally adjusted numbers also take into account seasonal hiring/layoff patterns that go along with winter and summer holidays. Use this data for month-to-month comparisons for Texas and the United States.
Labor Force – Residents who are at least 16 years old, not serving in the military or institutionalized, and employed or seeking employment.
The targeted occupations list is developed by Workforce Solutions of the Coastal Bend for the most effective use of local workforce development resources. Sources of information for the target list are local area employers, economic development entities, chambers of commerce, community partners, Texas Workforce Commission labor market information regarding the Coastal Bend Counties, and knowledge gained from continuous contact with the above sources.
Workforce Solutions of the Coastal Bend’s Strategic Business Plan 2017 – 2020 has been updated to comply with Workforce Innovation and Opportunity Act (WIOA) regulations and is available for public comment until noon Tuesday, March 5, 2019.
Public comments can be provided to Amy Kiddy Villarreal, Deputy Executive Director, by email at firstname.lastname@example.org.
Two public listening sessions were held on Tuesday, February 26, 2019 at 10:00 a.m. at the Sunrise Career Center located at 5858 S.P.I.D., Suite 1 and 3:30 p.m. at the Staples Career Center located at 520 North Staples.
Local Labor Market Information
The Texas Workforce Commission collects information from Unemployment Insurance claims coupled with data from the Current Employment Statistics Program and data from other sources to produce estimates of total employment, unemployment, and unemployment rates for the 27 Metropolitan Statistical Areas, and all 254 counties in the state.
Each month, the Local Area Labor Market Information (LMI) is distributed to the Coastal Bend community. These rates are provided to a wide variety of users both inside and outside government and are used as a basic allocator for federal funding in many programs.
Check out the latest Local Labor Market Information (LMI) for the Coastal Bend.