Coldwell Banker Commercial - Lubbock ,Texas
Feb 10, 2017

Lubbock’s unemployment rate remained well below state’s and nation’s throughout 2016

Throughout 2016, the unemployment rate in Lubbock remained well below the Texas and U.S. unemployment rates, which is an indication that the city’s job market is healthier than the rest of the state and nation.

 

Every month, the Bureau of Labor Statistics releases detailed employment data for the U.S. and individual states and communities. The final numbers for 2016 are in, and an analysis of last year’s trends shows that Lubbock performed admirably well compared to the rest of Texas and the U.S.

Data from the Bureau of Labor Statistics shows that the unemployment rate in Texas and the U.S. fluctuated between 4.0% and 5.0% throughout 2016. Lubbock’s unemployment rate, however, was a full percentage point lower than that of Texas and the U.S. for much of 2016.

Lubbock unemployment rate
2016 range: 3.0%–4.1%
2016 average: 3.4%
 
Texas unemployment rate
2016 range: 4.3%–4.8%
2016 average: 4.5%
 
U.S. unemployment rate
2016 range: 4.6%–5.0%
2016 average: 4.9%

 

In addition to having an unemployment rate well below the national and state unemployment rates last year, Lubbock earned the honor of being tied for the lowest unemployment rate in the state in both November and December 2016, according to reports from the Texas Workforce Commission.

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Contact: Garrett Haley, (806) 784-3219

Coldwell Banker Commercial Capital Advisors

Source: Bureau of Labor Statistics, Texas Workforce Commission