The Eagle Interviews PERC Staff on Texas, Local Economies

Mar 15, 2022
Summary: Dennis Jansen and Andrew Rettenmaier discussed the challenges and successes of both the Texas and the College Station-Bryan area economies in an article published by The Eagle newspaper on Tuesday, March 15, 2022.

Sourced from February’s issue of Economic Indicators, December’s unemployment rate in the College Station-Bryan MSA dropped to 3.8%, below the national rate of 4%, as well as the state of Texas’ rate of 5%.

“The last time we had a 3.8% unemployment rate was in 2017. From 2017 to February 2020, our unemployment rate got down to around 2.7%, so we still have a higher unemployment rate than we’ve had,” Rettenmaier said.

The article also notes that although local businesses are seeing more applicants for open positions, we are still facing a tight labor market. Other industries, like the oil and gas industry, have struggled to overcome large fluctuations in price, but hope for a stable recovery can be seen on the horizon.

“I think that oil and gas has been a headwind in the face of the Texas economy for the past year or so, and I think it will no longer be a headwind going forward. I think that’s probably good news for Texas and for the local area,” Jansen said.

Read the full article at The Eagle.

Read February’s Economic Indicators of the College Station-Bryan MSA here.