PERC Staff Interview on Economic Indicators Featured in The Eagle
Feb 01, 2021
Summary: The January issue of Economic Indicators was the topic of discussion in Dennis Jansen and Andrew Rettenmaier’s interview with The Eagle newspaper, which was published on Saturday, January 30, 2021.
“Locally, we’ve had some negative results in the last several months,” Jansen said. “Focusing on recent times, the last couple months have been tough around here. I don’t think we’re doing appreciably worse, but we’re not doing better — and we might be doing a little bit worse.”
Between October and November of 2020, the Business-Cycle Index decreased by 1.6%. This decrease is partially due to a rise in the local unemployment rate, one of the four economic indicators used to create the index, which increased 1.1 percentage points in November from the previous month.
“The current rate of 5.9% is second-lowest in the state, behind Amarillo, and yet it is more than double our pre-COVID unemployment rate,” Rettenmaier said. The local rate hovered near 2.7% for the same months in 2019.
Although lower than the same period in 2019, other economic indicators were stable or slightly better than the previous month. Local nonfarm employment increased slightly by 0.23% in November and local real taxable sales increased 2% from October to November.
To read the full article at The Eagle, click here.
To read the January issue of Economic Indicators, click here.