| El Paso economy dashboard (November 2024) | |||
| Job growth (annualized) Aug–Nov. ’24 |
Unemployment rate |
Avg. hourly earnings |
Avg. hourly earnings growth y/y |
| 0.8% | 4.6% | $22.82 | -0.4% |
El Paso employment dipped in November, but the three-month growth remained positive. The unemployment rate ticked up, and wages fell slightly. Meanwhile, sales tax collections in the metro area grew faster than the state in October.
Labor market
Employment grows slightly
El Paso employment increased an annualized 0.8 percent (700 jobs) from August through November (Chart 1). Education and health services experienced the largest gains (600 jobs), followed by professional and business services (500 jobs). Government experienced the largest decline (-300 jobs), and manufacturing experienced the second-largest decline (-200 jobs). Year-to-date employment grew an annualized 2.0 percent in El Paso, faster than the state’s 1.6 percent increase.
Unemployment rate edges up
El Paso’s unemployment rate increased slightly to 4.6 percent in November (Chart 2). This was higher than both the state’s and the nation’s jobless rates (4.2 percent).
Wages dip
El Paso’s average hourly earnings decreased slightly in November to $22.82 from $23.03, well below the state’s average earnings of $33.50. Year over year in November, wages in the metro fell 0.4 percent (Chart 3). Meanwhile, wages rose 5.0 percent in Texas and 4.0 percent in the U.S. over the same period.
Sales tax collection
Sales tax collections, which are a proxy for goods consumption, grew to $19.0 million in November (Chart 4). El Paso’s sales tax collections increased 12.7 percent from October, greater than the 0.1 percent increase in Texas over the same period. Year-over-year sales tax collections were up 7.8 percent in El Paso and 5.0 percent in the state.
NOTE: Data may not match previously published numbers due to revisions. The El Paso metropolitan statistical area includes El Paso and Hudspeth counties.
About El Paso Economic Indicators
Questions or suggestions can be addressed to Isabel Brizuela at [email protected]. El Paso Economic Indicators is published every month after state and metro employment data are released.
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