San Antonio Job Growth Higher than Initially Predicted

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The Federal Reserve Bank of Dallas came out with its San Antonio figures for January 2017, which provided good news for the metro. Jobs were added in 2016 at a 2.8% rate, faster than the 2.1% rate reported at the first of the year. Industries including manufacturing and construction were “revised up notably,” the report said.

The San Antonio Business-Cycle Index expanded at a 4.2% annualized rate, beginning 2017 slightly below January 2016’s 4.4%. Unemployment ticked up to 3.9%, while job growth increased at a 3.7% annualized rate. Interestingly enough, home affordability in San Antonio also picked up, The share of homes sold that a median-income family could afford increased from 61.3% to 62% in Q4 2017, a sharp divergence from the national trend.

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