PERC Staff Discuss Uptick in Local Economy in The Eagle

Aug 24, 2020
Summary: In an article published Monday, August 24, 2020, PERC’s Director Dennis Jansen and Executive Associate Director Andrew Rettenmaier spoke to The Eagle about the slow economic recovery taking place in College Station-Bryan.
Although still high compared to the same months in 2019, the unemployment rate for the College Station-Bryan metropolitan statistical area (MSA) has consistently been one of the lowest compared to other Texas metro areas. The latest issue of Economic Indicators, the monthly economic report produced by the Private Enterprise Research Center, notes that June’s unemployment rate for the College Station-Bryan MSA was recorded as the second lowest in Texas at 5.9%.
Although still down considerably compared to last year, enplanements out of Easterwood Airport also rose to 2,306 in July.
“Things are trending in the right direction,” Rettenmaier said. “Slowly,” Jansen added.
As we head into fall, the report also provides information on hotel industry revenues, which normally receive a boost during the months of Aggie football season.
“In a typical year, the economists said, the football season months of September, October and November account for approximately 30% of the year’s hotel revenues in Bryan-College Station. Rettenmaier said that through the first half of 2020, hotel receipts are down $26.6 million, or 50%, compared to the first half of 2019,” the article states.
“People always want to know when this is going to be over. It’s gonna take some time — it could take a lot of time,” Jansen said. “It’s like we’ve lost several years of progress. That’s the cost of this.”
To read the article at The Eagle, click here.
To read the latest issue of Economic Indicators, click here.