The leisure and hospitality sector shed 600 jobs, and wage growth is being eaten by inflation. SanAntonio SATX SanAntonioTX Texas Economy
San Antonio's unemployment rate declined to 3.6% in March, the same as the national average. Although wages are up and joblessness is down,, a closer examination of the latest jobs report shows that not everything is as peachy as it seems for the Alamo City economy.
While unemployment in San Antonio is below the national average of 4.2%, most of those employed work in low-paying service industry jobs, according to BLS statistics . The service sector employs 90% of San Antonio’s workforce, the data show. While unemployment in San Antonio is below the state average of 4.2%, an overwhelming majority of those jobs are in the service industry, which accounts for 90% of the local economy. And even though the average hourly wage in San Antonio topped $27.28 last month, a 9% increase from a year ago, a large chunk of that wage growth is being eaten by inflation, which stands at 8.5%, BLS numbers show.
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