The unemployment rate in Brazos, Burleson and Robertson counties was 3.8% in December, down from 5.4% in December 2020, according to the university’s report.
It was the third lowest unemployment rate in the state, lower than the national unemployment rate of 4% and the state unemployment rate of 5%.
Andrew Rettenmaier, executive associate director of the Private Enterprise Research Center, said the low unemployment rate bodes well for the region’s economy.
“The last time we had an unemployment rate of 3.8% was in 2017. From 2017 to February 2020, our unemployment rate dropped to about 2.7%, so we still have a higher unemployment rate than before,” he said rettenmaier
Glen Brewer, president and CEO of the Bryan-College Station Chamber of Commerce, said there was a labor shortage in the area, particularly in the leisure and hospitality industries.
“Hopefully as the COVID numbers come down there will be more people who want to get back into the labor market and maybe they won’t get included in the unemployment rate because they haven’t been looking for work,” Brewer said.
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Wade Beckman, owner of restaurants 3rd On Main, Admiral Catering, Amico Nave and Shipwreck Grill, said the pandemic has shifted the job market from one with a high-quality pool of applicants to one where employers must source candidates to fill positions.
“I think it’s going to get better. We are actually seeing some applicants now. Our promotion, when we post, we get a few more people who qualify, but it’s still very close,” Beckman said.
Beckman said he’s heard about restaurant closures across the country, but he believes the region is in a better position. Beckman said his restaurants aren’t at the point where they can’t keep up with demand, but still lack a “bank” of employees.
“There are a few restaurants in town that are (closed) that have changed their hours, areas and menus. I don’t know if everyone went back to their original menus, but they needed to create a menu that could be run by fewer people,” Beckman said. “Some of these things have kind of become the new norm.”
Traffic at Easterwood Airport increased in late 2021 but has not returned to pre-pandemic levels.
The airport’s passenger count for 2021 was 78% of the number in 2019. In 2021, American Airlines recorded 86% of its 2019 traffic, while United Airlines had 65% of its 2019 traffic.
In July and December, American Airlines exceeded 2019 passenger numbers for the same months in 2019.
Brewer said local officials continue to search for an airline interested in replacing United, which suspended its two daily flights from Easterwood Airport to Houston in January.
“It helps business, and honestly, Texas A&M University is one of the two largest universities in the United States, so not having fast flights to Houston makes a difference,” Brewer said. “It’s not acceptable that we don’t have that, so we’re going to fight for it to happen one way or the other.”
Dennis Jansen, director of Texas A&M’s Private Enterprise Research Center, said the region’s strong unemployment rates, job growth and retail sales signal an ongoing recovery from the pandemic. Jansen said he expects momentum in the oil and gas industry to fuel the recovery.
“I think oil and gas has been a headwind for the Texas economy for the past year or so, and I don’t think it will be a headwind going forward. I think that’s probably good news for Texas and the region,” Jansen said.
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