Job Growth, Home Sales, Drive San Antonio Business-Cycle Index

The San Antonio Business-Cycle Index grew to an annualized rate of 3.5% in August 2019, topping its long-term trends of 2.9%. According to the Federal Reserve Bank of Dallas, index growth was driven by job growth, a continued low unemployment rate and a robust housing market. Said Dallas Fed analysts: “These factors suggest that the regional economy has picked up after weakening early in the year.”

San Antonio unemployment was at 3.1% in August, with job growth for the three months ending in August at 4.8%, on an annualized basis. Construction was the fastest-growing sector, while health care, and leisure and hospitality experiencing a net hiring surge.

Home sales, in the meantime, “surged to an all-time high,” according to the Dallas Fed, up nearly 15% year over year. The median sales price, however, ticked down slightly.

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