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Texas A&M - 1 month ago

Winter storm pushes up Texas unemployment claims

​​​COLLEGE STATION – ​As anticipated, Texas initial unemployment claims increased to 55,600 the week ending Feb. 27 due to the winter storm. The previous week s numbers were revised upward.
Expectations are for the number of initial claims to return to the downward trend observed before​ the winter storm impacted the states’ economy, said Texas Real Estate Resear​​​ch Center Research Economist Dr. Luis Torres. ​The total unemployment claims filed in Texas since March 21, 2021, is 4.5 million, according to data from the U.S. Department of Labor (DOL).​
​Continuing unemployment claims decreased for the second consecutive week to 319,100 the week ending Feb. 20, possibly indicating laid-off workers are able to find job opportunities. ​
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, increased the week ending Feb. 27.
​Last week, U.S. initial claims increased to 745,400, bringing the 50-week total to 80.4 million. ​
More people in Austin, Dallas-Fort Worth, and San Antonio filed new unemployment claims the week ending Feb. 20. In contrast, fewer people filed new claims in Houston. The decline in Houston unemployment claims is somewhat surprising, said Torres. This could change next week due to the effects of the winter storm as workers may have struggled filing claims and the ​government struggled processing them.
More people in El Paso and McAllen filed new unemployment claims the week ending on Feb. 20. Fewer people filed new claims in Brownsville and Laredo.
Using data from the DOL and the Employment and Training Administration, the Center has estimate​d unemployment claims for Texas major and border metros since March 21, 2020 #58;
Houston-The Woodlands-Sugar Land, 1.03 million Dallas-Fort Worth-Arlington, 989,500 San Antonio-New Braunfels, 302,300 Austin-Round Rock, 255,800 McAllen-Edinburg-Mission, 125,300 El Paso, 107,500 Brownsville-Harlingen, 55,100 andLaredo, 31,300​ claims.​
The manufacturing sector registered the highest number of initial claims the week ending Feb. 20. That sector was followed by healthcare and social assistance, administrative​/support/waste management/remediation services, construction, retail trade, and accommodation and food services.
The Texas Real Estate Research Center has a wealth of economic information online for free.2021 Texas Housing Economic OutlookCOVID-19 Impact Projections on ​Texas Economy​Texas employment data​Monthly Review of the Texas Economy​​Source #58; Texas Real Estate Research ​Center​​​​​


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