Edinburg’s December 2014 unemployment rate drops

Edinburg’s December 2014 unemployment rate drops

Edinburg’s December 2014 unemployment rate drops below five percent, best monthly showing in almost seven years, Edinburg EDC announces

Edinburg achieves best December, annual unemployment rates since 2008 Edinburg’s unemployment rate for December 2014 was 4.8 percent, the best showing for the city during 2014, and the first time in almost seven years – since January 2008, which also achieved a 4.8 percent unemployment rate – that the city’s economy had registered such a strong figure in the jobs market, the Edinburg Economic Development Corporation has announced. The EEDC is the jobs-creation arm of the Edinburg City Council.  The annual unemployment rate in Edinburg for 2014 was 6.15 percent, the best 12-month average from January through December in seven years. Edinburg’s annual unemployment rates since 2005, which is the year in which the state government began preparing those figures using a more accurate formula, have registered as follows: 2014 (6.15 percent); 2013 (7.3 percent); 2012 (7.8 percent); 2011 (8.9 percent); 2010 (8.4 percent); 2009 (6.8 percent); 2008 (5.0 percent); 2007 (4.8 percent); 2006 (5.3 percent); and 2005 (4.9 percent). In deep South Texas, only McAllen registered a better December 2014 monthly unemployment figure than Edinburg’s 4.8 percent, but not by much, as the City of Palms came in at 4.6 percent. The statewide unemployment average in Texas for December 2014 was 4.6 percent, while the U.S. unemployment rate for that month was 5.6 percent. Agustín “Gus” García, Executive Director for the Edinburg Economic Development Corporation, says the ongoing improvements of the local and regional unemployment rates are tied into the strengths and diversity of the economies throughout deep South Texas. “Edinburg has our medical, educational and governmental sectors which help power our economy, while McAllen has their large manufacturing and retail industries,” he illustrated. “With the scheduled opening in February of the $180 million Santana Textiles denim manufacturing complex in north Edinburg, and with the continuing growth of The University of Texas-Rio Grande Valley and its planned School of Medicine in Edinburg, we should see more economic advances for our community and region.” García (no relation to Mayor Richard García) pointed out that the Valley is an economic success story which reaches beyond its four-county boundaries. “We are fortunate as a whole to be in a growing sector of the United States. Recently the Edinburg/McAllen/Mission/Pharr metropolitan statistical area was ranked as the second-fastest growth area in the Texas, and Texas has continually been ranked as the fastest-growing state in the nation,” the EEDC Executive Director continued. “The EEDC’s role as a center of economic development is to harness these opportunities. These and other positive economic achievements reflect the efforts of not only the EEDC Board of Directors and its staff, but also of the city management, and of course, our city leadership: Mayor García and the Edinburg City Council.” Featured in this image during the Thursday, February 6, 2014 grand opening of the EEDC’s office in downtown Edinburg are, from left: Agustín “Gus” García (no relation to the mayor), Executive Director, Edinburg Economic Development Corporation; Edinburg City Councilmember Richard Molina; Rep. Terry Canales, D-Edinburg, and Ramiro Garza, Jr., City Manager, City of Edinburg.

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