Full text of El Paso Economic Indicators : April 1, 2019
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El Paso Economic Indicators Federal Reserve Bank of Dallas April 1, 2019 El Paso's economy continues to expand. While employment contracted in February, jobs rose 1.2 percent year to date. Existing-home sales dipped, while median-home prices inched up in February. Trade through the port remains steady, and maquiladora employment also remains solid. Business-Cycle Index The El Paso Business-Cycle Index edged up an annualized 0.4 percent in February, below January's increase of1.4 percent (Chart1). Slower gains in the index are likely attributed to the softer labor market. Chart 1 El Paso Business-Cycle Index Index, January 2009 = 1oo• 120 115 110 105 100 95 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 ·seasonally adjusted, monthly. SOURCE: Dallas Fed. Labor Market In February, El Paso jobs contracted an annualized 1.8 percent, and job growth was mixed across sectors (Chart 2). However, El Paso's job gains year to date were positive at an annualized 1.2 percent, slightly below their long-term average of1.s percent. Year to date, most major sectors added jobs. Leisure and hospitality, which accounts for one of every10 jobs, posted the strongest growth-up 7.4 percent year to date. El Paso's unemployment rate in February was 4.3 percent, above the 3.8 percent figure for both Texas and the U.S. Federal Reserve Bank of Dallas El Paso Economic Indicators | April 1, 2019 Page 1 of 4 Federal Reserve Bank of Dallas El Paso Economic Indicators | April 1, 2019 Page 2 of 4 Federal Reserve Bank of Dallas El Paso Economic Indicators | April 1, 2019 Page 3 of 4 Federal Reserve Bank of Dallas El Paso Economic Indicators | April 1, 2019 Page 4 of 4
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