San Antonio growth forecasts trimmed

SAN ANTONIO – San Antonio’s 2013 job growth will come in between 1 percent and 2 percent, or a range of 8,882 to 17,764 additional jobs, according to Steve Nivin, chief economist for the SABÉR Research Institute. These numbers are lower than Nivin’s initial prediction.

Nivin’s initial prediction early this year was that San Antonio’s job base would grow between 2.25 percent and 2.75 percent, or a range of between 20,039 and 24,492 additional jobs.

Government policy uncertainty and lost paychecks caused by government budget cutbacks are blamed for stalling the city’s economic growth.

Energy employment has grown strongly, thanks to the drilling activity in the Eagle Ford Shale region. But financial activity, manufacturing, wholesale and federal employment have seen declines.

San Antonio’s job growth began to stall in September 2012. Between July 2012 and July 2013, the city’s jobs base grew only 1.09 percent. San Antonio’s average annual job growth since 1990 is 5.3 percent.

Read more at the San Antonio Express-News.