Category Archives: Regional Updates

Southern California Maintains Positive Outlook in 2014

Southern California labor markets continue to recover heading into 2014. Regional nonfarm employment gained 115,600 jobs in the 12 months ending in December. Boosts to nonfarm payrolls in 2013 included professional and business services, education and health services, and leisure … Continue reading

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Northern California: A New Home For the ‘Niners

Northern California labor markets improved in 2013. Nonfarm payroll employment has now surpassed its pre-recession peak, at 2,976,430 jobs in 2013Q4. We expect the Northern California economy to add another 56,000 jobs in 2014. The unemployment rate for the region … Continue reading

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Phoenix Economy Ends 2013 with a Positive Outlook

After facing a number of headwinds in 2013, Phoenix’s moderate economic expansion will continue into 2014. Increased uncertainty and federal budget sequestration were a drag on local defense-related businesses throughout 2013. Honeywell International, whose aerospace division is headquartered in Phoenix, … Continue reading

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Miami’s Road to Recovery

The Miami metro area was pummeled by the Great Recession. The area’s economy bled jobs for 23 consecutive months. Home prices and housing markets were hammered. Bankruptcies jumped, while incomes and consumer spending slumped. Seven years after the beginning of … Continue reading

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San Antonio Poised for Moderate Economic Growth in 2014

The San Antonio MSA has benefited greatly from the Eagle-Ford Shale. The area will continue to benefit from the energy boom in 2014 albeit at a slower pace. Drilling activity moderated in second half of 2012 through 2013 as natural … Continue reading

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North Texas Ends 2013 Flat, We Maintain our Positive Outlook

The jobs machine known as North Texas ended 2013 on a flat note, with essentially no payroll jobs added in November, followed by a large 10,400 net job loss in December. Reduced federal spending through 2013 was certainly a drag … Continue reading

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Strong Year Ahead for Houston

Strong energy markets and a broadening economic base will drive the Houston economy ahead in 2014. WTI crude oil prices firmed to near $100 per barrel in mid-February. The extreme winter weather in much of the country has increased natural … Continue reading

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Austin Continues to Generate Jobs

Austin continues to be one of the strongest job-creating metro areas in the U.S. The area added a net of 23,600 jobs in 2013, most of them coming from services producing sector. Austin is not only the home for many … Continue reading

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Detroit Set for Modest Growth

The Detroit metro area is adding jobs, but only slowly. As of December, payroll jobs increased in the Detroit metro area by 0.8 percent over the previous year, significantly under the U.S. national average of 1.7 percent. The metro-area unemployment … Continue reading

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Central West Michigan’s Economy to Improve Moderately

The Central West Michigan (CWM) area created about 29,500 nonfarm payroll jobs in 2013, of which more than 64 percent were in the Grand Rapids metro area. CWM private businesses created more than 3,550 jobs in the manufacturing sector alone … Continue reading

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