Sunday, July 22, 2012
Laredo's work force increases, as does unemployment rate
Perhaps everybody is heading down to laredo because they keep hearing of how much of an economic boom we are experiencing. Or, then again, maybe it's just that the recent slew of High School and College graduates have already entered the workforce. Either way, the Gateway City's Civilian Labor Force (CLF) has gone up since just a couple of months ago.
In May of this year, Laredo's CLF stood at 102.2 thousand. By June, that number had increased to 104.2 thousand. In May, the percentage of those who were actually employed was at 95.1 for an effective unemployment rate of 7.0 percent.
The most recent Texas Workforce Commission figures show that our unemployment rate has increased to 7.9 per cent due to the fact that of the 104.2 thousand individuals in the city's workforce, the percentage of those actually employed stood at 95.9 per cent in June.
OK, so the number of people looking for work locally has gone up by a couple of thousand but our unemployment rate jumped almost a full percentage point. Let's see how the mayor spins this news in such a way that Laredo will, once again, come out looking like South Texas' economic power.