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Bryan-College Station unemployment rate dropped in October

Bryan-College Station unemployment rate dropped in October

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The Bryan-College Station metro area’s unemployment rate fell from 5.6% in September to 4.9% in October, according to a report from Texas A&M’s Private Enterprise Research Center released Thursday.

The monthly report of economic indicators shared that local nonfarm employment increased slightly since September but was 4.2% lower in October 2020 than it was in October 2019. Local real taxable sales increased 6.5% from September to October but were 9.6% lower than the same month last year.

Locally, 174 unemployment claims were filed during the week ending Nov. 28, the lowest weekly total since the week ending March 14.

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Statewide, unemployment remains highest in west and south Texas. Odessa’s unemployment rate was 11.4% at the end of October, the most recent figure available. In the McAllen–Edinburg–Mission metro area, the unemployment rate was 11.2% and in Beaumont–Port Arthur, the rate was 10.6%. The Bureau of Labor Statistics compiled all unemployment figures.

The state’s overall unemployment rate is 6.9%.

PERC’s report also includes hotel revenue statistics. Hotel receipts from January to October of 2020 were 49% of receipts for the same months of 2019. During the first two months of this year’s football season, September and October, hotel revenues were 42% of the receipts for the same months of 2019.

“The precipitous drop in revenues per room over the last eight months, beginning in March 2020, reveals just how hard this recession has hit local hotels,” the PERC report reads.

To view the entire economic report, visit perc.tamu.edu.

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