Monthly Archives: January 2012

Miami Still Reeling from Housing Bust

Posted on January 31, 2012 by Comerica Economics

Miami labor markets were not only hit harder by the recession, but have recovered more slowly than the national average.  2011 Miami payroll employment grew 0.9 percent, compared to 1.0 percent nationally.  Miami’s unemployment rate of 11.0 percent is only … Continue reading →

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Posted in Miami, Quarterly Briefs | Comments Off

Detroit Is Finding Stability but Long-Term Issues Remain

Posted on January 31, 2012 by Comerica Economics

The Detroit metro area economy is stabilizing with the help of increasing auto sales and an upsurge in auto production. U.S. auto sales at a 13.5 million unit pace in December have lifted off the 9.2 million unit floor hit … Continue reading →

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Posted in Detroit, Michigan, Quarterly Briefs | Comments Off

Southern California Faces Challenges

Posted on January 31, 2012 by Comerica Economics

In addition to its marquis entertainment industry and associated tourism industry, Southern California relies heavily on international trade and defense spending. The ports of Los Angeles and Long Beach together are the fifth-busiest port in the world. The good news … Continue reading →

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Posted in California, Quarterly Briefs, Southern California | Comments Off

Northern California Boosted by Silicon Valley, Anchored by Government

Posted on January 31, 2012 by Comerica Economics

Strong hiring by resurgent Silicon Valley is helping to stabilize the Northern California economy. Apple, Cisco Systems and Google, among others, were hiring strongly in the second half of 2011.  Health care company Kaiser Permante also posted a significant number … Continue reading →

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Posted in California, Northern California, Quarterly Briefs | Comments Off

San Antonio Boosted By Energy, Manufacturing Growth

Posted on January 31, 2012 by Comerica Economics

The San Antonio labor market, on the heels of strong 2011 growth, is poised for further acceleration over coming quarters.  Compared to the nation’s 1.0 percent year-over-year job growth, the San Antonio job market is estimated to have grown 1.4 … Continue reading →

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Posted in Quarterly Briefs, San Antonio, Texas | Comments Off

North Texas Poised for Growth, But Also Vulnerable to Drags

Posted on January 31, 2012 by Comerica Economics

After nearly stalling in the second half of 2011, job growth in the Dallas-Fort Worth metroplex is expected to re-engage in 2012.  Currently at 8.1 percent, the area’s unemployment rate remains well below the national average, and is expected to … Continue reading →

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Posted in Quarterly Briefs, Texas | Comments Off

Houston Rebounds with Global Energy and Shipping Boom

Posted on January 31, 2012 by Comerica Economics

The global boom in both traditional and alternative energy industries helped the Houston metropolitan area to surpass its pre-recession employment peak of 2.6 million payroll jobs set in August 2008 by October 2011. The region’s unemployment rate of 8.1 percent … Continue reading →

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Posted in General, Quarterly Briefs | Comments Off

Austin Growing, But Not Booming

Posted on January 31, 2012 by Comerica Economics

Austin unemployment has, for the past several quarters, held onto either side of seven percent.  This is historically high for the region, but remains reasonably below the national unemployment rate of 8.5 percent as of December.  Austin payroll employment is … Continue reading →

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Posted in Austin, Quarterly Briefs, Texas | Comments Off

December Income and Spending

Posted on January 30, 2012 by Comerica Economics

Consumers Cautious as Spending Stalls U.S. Personal Income increased by 0.5 percent in December as wage income gained 0.4 percent. After inflation and taxes, Real Disposable Income increased by 0.3 percent in December. Personal Consumption Expenditures were unchanged for the … Continue reading →

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Posted in Daily, United States | Comments Off

Comerica Economic Weekly

Posted on January 27, 2012 by Comerica Economics

The Federal Reserve downplayed recently better U.S. data and extended the extended period for a near-zero fed funds rate to late 2014.  They also committed to a specific inflation target. The advance estimate of 2011Q4 real GDP growth came in … Continue reading →

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Posted in General, United States, Weekly | Comments Off