Category Archives: Regional Updates

Phoenix Recovery Advances, but Downside Risks Lurk

Posted on February 21, 2013 by Comerica Economics

Following a flat unemployment rate through Q2 and Q3 of last year, Phoenix unemployment dipped to 6.8 percent on average for Q4 2012. Payroll job growth in Phoenix outperformed the national average in 2012, up 2.5 percent, compared to 1.7 … Continue reading →

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Miami Poised for a Stronger 2013

Posted on February 21, 2013 by Comerica Economics

Following two consecutive quarters of job growth declines, Miami payrolls grew at a 1.7 percent annualized rate in the fourth quarter of 2012. This brings full-year 2012 job growth in Miami to just 0.6 percent, well-below the U.S. average of … Continue reading →

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Southern California Improving as Housing Firms

Posted on February 20, 2013 by Comerica Economics

The Southern California economy is showing signs of improving, as payroll jobs increase and housing markets heal. Job growth in the Southern California area is on par with the national average, but is lagging behind Northern California. The unemployment rates … Continue reading →

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Northern California Leads State Growth, Another Oil Boom?

Posted on February 20, 2013 by Comerica Economics

Job growth in the San Francisco and San Jose metro areas continues to outpace the national and state averages. Technology firms are still hiring aggressively, and property markets are heating up. On a year-to-year basis payroll employment in the San … Continue reading →

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Lower Natural Gas Prices Temper San Antonio’s Outlook

Posted on February 20, 2013 by Comerica Economics

Job growth in San Antonio slowed to an annualized rate of 1.3 percent in Q4, following a 5.1 percent spike in payrolls in the first quarter of the year. The San Antonio labor market’s second half performance brought the area’s … Continue reading →

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North Texas Economy Strong But Exposed to Fiscal Tightening

Posted on February 20, 2013 by Comerica Economics

Job growth in the Dallas-Fort Worth metroplex through the 12 months ending in December was strong, up 2.5 percent compared with the U.S. average of 1.6 percent. As a result, the area’s unemployment rate is falling faster than the national … Continue reading →

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Vibrant Silicon Hills Spurs the Austin Economy

Posted on February 20, 2013 by Comerica Economics

The Austin labor market closed out 2012 with an impressive five percent annualized gain in Q4, driven by a robust local tech sector. Unemployment averaged 5.2 percent for the quarter, 2.6 percentage points below the national rate during the same … Continue reading →

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Houston Economy Still Growing and Broadening

Posted on February 19, 2013 by Comerica Economics

The Houston metro area continues to be a major engine of growth for the U.S. economy. Job creation over the 12 months  ending in December was very strong, with payroll employment up 3.1 percent compared with the U.S. average of … Continue reading →

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Detroit Payrolls Slip as Financial Crisis Worsens

Posted on February 19, 2013 by Comerica Economics

After outpacing the national average through 2010 and 2011, payroll job growth in the Detroit metro area has slipped into reverse. Since hitting a post-recession peak of 1,811,700 jobs in August 2012, about 15,000 jobs have been lost on net … Continue reading →

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Central West Michigan Economy Lost Steam Heading into 2013

Posted on February 19, 2013 by Comerica Economics

Following a slight decline in employment in the third quarter, payrolls fell by another 2.1 percent annualized in the fourth quarter in the Central West Michigan region. A revitalized auto manufacturing sector helped boost employment across the region in the … Continue reading →

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