Economic Indicators of the College Station-Bryan MSA, July 2020
Date: July 2020
Initial unemployment claims over the last 17 weeks topped 50 million nationally. The number of claims per week have declined since the week ending on March 14. Over the same time period, 2.8 million workers in Texas filed claims. Locally, 13,794 initial unemployment claims were filed between the weeks ending on March 14 to June 27. Air travel both nationally and out of Easterwood Airport increased in June relative to May. Measures of local and statewide vehicle traffic indicate that vehicle miles driven increased from early April to the middle of June but have declined modestly since. The May unemployment rate of 8.9% in College Station-Bryan was tied for the lowest rate among Texas metro areas. Nonfarm employment in College Station-Bryan was 125,300 in January and by April had dropped to 116,900. May saw an increase to 118,700. Inflation-adjusted taxable sales declined 16.6% between January and April. In May, they rebounded 12.8% relative to April, to $333 million. The Business-Cycle Index exhibited a monthly decrease of 3.5% for the month of May.
Covid-19, coronavirus, local economy, College Station-Bryan, miles driven, travel, unemployment