El Paso: Healthy Labor Market, Slower Trade

El Paso’s Business-Cycle Index increased by an annualized 2.5% in April 2019.  According to analysts with the Federal Reserve Bank of Dallas, the rise is due to job-market gains. Year to date, job growth is at an annualized 1.9%, well above the metro’s long-term average of 1.5%. The unemployment rate of 3.6% was identical to that of the U.S., and just below Texas’ rate of 3.7%.

However, annualized total trade through the El Paso Port of Entry totaled $74.5 billion in March 2019, down 7.3% year over year. The Dallas Fed indicated that the slowdown was due to declines in both imports and exports, pointing out that the contraction could be linked to recent long delays at the border crossing.

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