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Local Economic Update
Corpus Christi is
rebounding in the wake of Hurricane Harvey, which struck the Coastal Bend in
August. Industries directly related to the region's rebuilding efforts added
more than 4,000 jobs in October, bringing the local unemployment rate down to
5.1 percent -- one percentage point below that a year ago. New home
construction has slowed down as much of construction activity has shifted
temporarily to home repairs, particularly in communities devastated by
Harvey. View the latest statistics.
Read the latest edition of the Coastal Bend Economic Briefing newsletter,
which is brought to you by the South Texas Economic Development Center,
Corpus Christi Regional Economic Development Corporation, and Workforce
Solutions of the Coastal Bend.
Coastal Bend Employer Needs Survey
An online survey of employers in the Coastal Bend has been conducted to better understand any existing gaps in the regional workforce.
Nearly 60% of the 100 respondents had faced hiring difficulties due to different reasons,
including a lack of work experience and mismatch of work skills. Employers dealt with hiring difficulties in various ways,
including having existing employees work overtime, outsourcing, hiring less qualified applicants, or recruiting from outside the region.
Harvey is widely recognized as one of the costliest natural disasters in U.S.
history, ahead of Sandy but behind Katrina. This article focuses on its
impact on communities within the Corpus Christi metro area, where the storm
made its first landfall. Simulation exercises suggest that the extended
economic impact in the form of cumulative output losses reduces substantially
the sooner those communities can recover.
Read Full Article
South Texas Economic Development Center
A&M University-Corpus Christi
Ocean Drive, Corpus Christi,