COLLEGE STATION – Initial jobless claims in Texas increased unexpectedly for the second week in a row to 80,700 the week ending March 20.
About 4.7 million unemployment claims have been filed since March 21, 2020, according to U.S. Department of Labor (DOL) data.
Continuing unemployment claims decreased to 305,500 the week ending March 13.
“For the labor market to fully recover going forward, significant downward movement in initial and continuing claims needs to happen, given that claims levels remain high,” said Texas Real Estate Research Center Research Economist Dr. Luis Torres.
The number of workers receiving benefits through the pandemic unemployment assistance program, which is open to gig workers and others who don’t typically receive benefits, decreased the week ending March 20.
Last week, U.S. initial claims decreased to 684,400, bringing the 53-week total to 82.6 million.
U.S. claims are at their lowest level since before the pandemic closed the economy around mid-March last year.
More people in Texas’ major and border metros filed new unemployment claims the week ending March 13.
Using data from the DOL and the Employment and Training Administration, the Center has estimated unemployment claims for Texas’ major and border metros since March 21, 2020:
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Houston-The Woodlands-Sugar Land, 1.08 million claims;
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Dallas-Fort Worth-Arlington, 1.03 million claims;
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San Antonio-New Braunfels, 317,800 claims;
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Austin-Round Rock, 266,600 claims;
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McAllen-Edinburg-Mission, 129,700 claims;
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El Paso, 110,900 claims;
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Brownsville-Harlingen, 57,100 claims; and
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Laredo, 32,300 claims.
“Increasing vaccination rates should lead to a faster recovery in the leisure and hospitality sector, possibly creating a wave of hiring that would allow thousands of laid-off workers to find jobs,” said Torres.
Healthcare and social assistance registered the highest number of initial claims the week ending March 13. That sector was followed by retail trade, administrative/support/waste management/remediation services, educational services, transportation and warehousing, and accommodation and food services.
The Texas Real Estate Research Center has a wealth of economic information online for free.