Coastal Bend records record-low December unemployment | Coastal Bend records record-low December unemployment | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=23904 | 2020-02-19T06:00:00Z | 2020-02-21T00:00:00Z | CORPUS CHRISTI – The Coastal Bend region ended 2019 on a high note with steady growth in employment and business activity despite uncertainty at the national and global levels. According to the South Texas Economic Development Center at Texas A&M University-Corpus Christi, 1,327 jobs were added across the area last year. Several sectors, including mining and construction, contributed to the job growth, but trade and business services saw an annual decline.
The 4.2 percent unemployment rate was a historical low for the month of December. Across the Coastal Bend, Live Oak County experienced the lowest unemployment at 2.9 percent.
Strong labor market and business conditions have contributed to a tight housing market locally and statewide. The region's median home sales price hit $215,500 by the end of 2019.
Inventory shrank to 4.7 months, the lowest since mid-2014. The Real Estate Center considers six to 6.5 months of inventory a balanced market.
The Real Estate Center has a wealth of economic information online for free. | South Texas Economic Development Center
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