July/August/September 2006

San Antonio Job Gains Continue Into the Third Quarter of 2006…

The San Antonio job market grew modestly in the third Quarter of 2006, expanding Total Nonfarm payrolls by 1,100 jobs (0.14 percent) versus second Quarter employment levels. Despite the region’s moderate Quarterly gains, however, all major industry sectors excluding the Government sector experienced significant job gains during the three-month period. Job losses among Government sector employers, most significantly staffing reductions among local Independent School Districts (ISDs) during the summer months, largely offset the gains experienced in other sectors resulting in the local economy’s modest overall job gains for the Quarter. In contrast to government employment activity, Private Employers collectively added 6,157 jobs (0.95 percent) during the period spanning July through September.

Total Nonfarm Employment Summary:
3rd Quarter 2006

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The 1,100 job Quarterly expansion represents the second consecutive third Quarter increase following four consecutive years of third Quarter reductions. Comparatively, annual job growth during the third Quarter remained strong at 1.96 percent (15,367 jobs), the second strongest annual growth rate registered in any third Quarter since 2000, trailing only the 2.72 percent annual growth rate recorded in 2005.

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Job Gains…
Employment growth in the Goods-Producing segment of the local economy continued to outpace that of the greater job market during the third Quarter of 2006, expanding by 1,733 jobs versus the previous Quarter and realizing an impressive 3.79 percent (3,600 jobs) annual growth rate when compared with its corresponding 2005 Quarter. Strong hiring within the Construction sector continued to drive the segment’s expansion. Local construction firms added 1,100 jobs (2.28 percent) during the Quarter, bringing the sector’s annual job gains to 3,300 (7.16 percent), more than triple the annual growth rate of the greater job market. The Manufacturing Sector, likewise, continued to post strong gains, adding 467 jobs (1.00 percent) during the three-month period and registering a 2.02 percent (933 jobs) annual growth rate. Increased hiring by Durable Goods Manufacturers continued to drive the sector’s expansion, accounting for 433 jobs of the sector’s overall job gains during the third Quarter.