April–July '24
San Antonio payrolls grew slightly, and wages registered solid growth in July, while retail sales tax revenue marginally decreased.
The San Antonio Business-Cycle Index , a gauge of economic conditions in the metro area, increased an annualized 2.5 percent from June to July, narrower than the 3.1 percent rise from May to June ( Chart 1 ).
Unemployment rate holds steady.
The San Antonio unemployment rate remained 3.7 percent ( Chart 2) . The unemployment rates in both Texas and the U.S. were higher at 4.1 percent and 4.3 percent.
San Antonio payrolls increased an annualized 0.8 percent in July (815 jobs) (Chart 3) . Job gains were driven by trade, transportation and utilities (4.0 percent, or 673 jobs), financial activities (3.7 percent, or 305 jobs), construction (5.9 percent, or 319 jobs), and manufacturing (3.6 percent, or 185 jobs). All sectors experienced monthly growth except leisure and hospitality (-4.5 percent, or 558 jobs), educational and health services (-2.2 percent, or 339 jobs), government (-0.9 percent, or 141 jobs), information (-5.1 percent, or 75 jobs) and professional and business services (-0.2 percent, or 24 jobs). Year-to-date total nonfarm employment grew 1.2 percent in San Antonio, lower than Texas (1.7 percent) and the U.S. (1.6 percent).
San Antonio wages grew an annualized 10.9 percent in July, while Texas wages rose 3.9 percent and U.S. wages were up 3.7 percent. The three-month moving average of hourly wages in San Antonio was $29.48, below both the state average of $32.90 and the national average of $34.98 ( Chart 4 ). In the past year, wages in San Antonio have risen 5.0 percent, faster than the increase in Texas (4.9 percent) and the increase in the U.S. (3.8 percent).
San Antonio sales tax revenue, adjusted for inflation, shrank 1.8 percent in July compared with the previous month. The state sales tax revenue increased 3.2 percent over the same period (Chart 5) . Year-over-year San Antonio sales tax revenue increased 2.6 percent, while state sales tax revenue rose a slight 0.3 percent.
Existing-home sales in San Antonio declined 3.2 percent in March compared with a 4.7 percent decrease statewide (Chart 6) . Despite the drop, homes sales are up 18 percent year to date in San Antonio and 7.8 percent in the state. Year-over-year sales are up 3.0 percent in San Antonio and down 6.4 percent in the state.
NOTE: Data may not match previously published numbers due to revisions.
Questions or suggestions can be addressed to Ethan Dixon at [email protected] . San Antonio Economic Indicators is published every month during the week after state and metro employment data are released.
IMAGES
COMMENTS
Some time around 1820, th e world growth rate started to rise, averaging just over one half of one percent per year from 1820 to 1870, and peaking. during what Maddison calls the "golden ag e ...
Economic Growth. New research on economic growth from Harvard Business School faculty on issues including whether the US economy can recapture the powerful growth rates of the past, how technology adoption affects global economies, and why India's economy is expected to overtake China's. Page 1 of 19 Results.
Contribution of Green and Organic Products to Economic Growth: There is a lot of research being published on organic food consumption, electric vehicles, green products and consumption. On the one side, the measurement of these products in human life is missing. On the other side, some countries are producing and exploring these organic and ...
The Journal of Economic Growth serves as the principal outlet for research in the fields of economic growth and comparative economic development. The journal publishes high quality research that explores the growth process in the contemporary period as well as over the entire course of human history. In particular, the journal encourages the ...
Abstract. This study explores the main factors of economic growth in a panel of the world's 20 biggest economies considering the data period of 39 years (1980-2018). In particular, the roles of international trade, energy use, human capital, and foreign direct investment (FDI) are examined in addition to the roles of capital and labour.
The empirical results on the relationship between academic knowledge/research output and economic growth is far from clear-cut or conclusive. The empirical literature can be divided into two main set of studies (see Table 1).The first includes studies that consider global research output, without distinguishing research fields (De Moya-Anegón and Herrero-Solana 1999; Lee et al. 2011; Inglesi ...
Economic Growth. EPI's research on economic growth assesses how policymaking and economic institutions either help or hinder efforts to ensure that the U.S. economy is operating at full employment and to generate sustainable growth in average living standards as rapidly as possible. Search all EPI publications by author, issue, or content.
The Journal of Economic Growth serves as the principal outlet for theoretical as well as empirical research in economic growth and dynamic macroeconomics. The journal publishes high quality research examining neoclassical and endogenous growth models, growth and income distribution, human capital, fertility, trade, development, migration, money, the political economy, endogenous technological ...
The factors required to achieve sustainable economic growth in a country are debated for decades, and empirical research in this regard continues to grow. Given the relevance of the topic and the absence of a comprehensive, systematic literature review, we used bibliometric techniques to examine and document several aspects in the empirical ...
We face big challenges to help the world's poorest people and ensure that everyone sees benefits from economic growth. Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. Data & Research. Open Data; By Country; By Indicator;
R&D has a large effect on both output and TFP at the state level in the long run. The R&D elasticity in a state averages 0.056 to 0.143, implying returns to state GDP from R&D spending of 83% to 213%. There are also positive R&D spillovers, with 77% of the total returns accruing to other states.
A panel causality analysis of the relationship among research and development, innovation, and economic growth in high-income OECD countries. Eurasian Economic Review , 2(1), 32-47. Google Scholar
Economic growth means an increase in the quantity or quality of the many goods and services that people produce. The history of economic growth is, therefore, the history of how societies left widespread poverty behind. In places that have seen substantial economic growth, few now go without food, almost all have access to education, and ...
Our view is that this debate about the implications of technological advances for economic growth suggests two broad directions for public policy. First, the United States should promote future productivity growth by facilitating increased innovation, including in AI, robotics, and digital sensors. Expanded government support for research and ...
Conclusions. Economic growth determines the future economic well-being of a country, making understanding the determinants of growth a high-priority area of economic research. The analysis of how education affects growth makes a strong case that the skills of the population are by far the most important factor.
How is economic growth measured? Economic growth is difficult to measure accurately. Counting the number of televisions manufactured in a country is one thing. But once we get into services or intangible products such as intellectual property or research output, things get a little muddled. As a result, economists have traditionally turned to ...
Economic growth, as we said before, is an increase in the production of the quantity and quality of the economic goods and services that a society produces. The total income in a society corresponds to the total sum of goods and services the society produces - everyone's spending is someone else's income.
In addition, economic growth increases with investment in African countries. The results further show that a 10% increase in investment will increase GDP per capita by 0.6%. Human capital positively and significantly impacts economic growth. The results show that economic growth is proportionately sensitive to the level of human capital.
Analysis by the IMF suggests that research and development are vital for economic progress. Cross-border collaboration is also crucial to help foster the innovation needed for long-term growth. COVID-19 vaccines are an example of innovation, helping save lives and bring forward the reopening of many economies.
To understand why scholars are particularly concerned about ideas-driven economic growth, recall the conventional production function for new ideas d A / d t = A ϕ L λ, in which A are existing ideas that improved the quality and/or variety of goods, L is the number of people engaged in research, and d A / d t are the new ideas produced during ...
Instead, all the growth until around 1960 occurs in the bottom 99.9%. The sec-ond point is that this pattern changed in recent decades. For example, average growth in GDP per person for the bottom 99.9% declined by around half a percentage point, from 2.3% between 1950 and 1980 to only 1.8% between 1980 and 2007.
Our analysis suggests that the composition of R&D matters for growth. We find that basic scientific research affects more sectors, in more countries and for a longer time than applied research (commercially oriented R&D by firms), and that for emerging market and developing economies, access to foreign research is especially important.
Income and consumption tax changes in the UK from 1973-2009. Positive, strongest for income tax cuts. A 1 percentage-point cut in the average income tax rate raises GDP by 0.78%. Cloyne et al., 2018, "Taxes and Growth: New Narrative Evidence from Interwar Britain," NBER Working Paper 24659.
Economic growth over the next decade will be much closer to the 2 percent average annual rate the Congressional Budget Office (CBO) projects than to the 3 percent or better the Trump Administration is promising. Large tax cuts are far from a surefire way to spur growth, higher taxes don't preclude growth, and tax cuts can harm growth if they ...
The current research examines the influence of digital financial inclusion (DFI) and financial stability (FS) on sustainable development in Vietnam through a dataset spanning during 2004-2022.
The global economic model that emerged from the growth revolution of the 1960s orients economies away from the domestic sphere, toward deregulated international capital markets and exports. ... Policy Research in Macroeconomics (PRIME's official name) is a company limited by guarantee, incorporated in England and Wales. It is company no ...
Annual Real Gross Domestic Product Growth Rate — 1930 through 2022. Following the end of World War II and the large adjustment as the economy adjusted from wartime to peacetime in 1945, the collection of many economic indicators, such as unemployment and gross domestic product (GDP) became standardized. Expansions after World War II may be compared to each other much more easily than ...
San Antonio payrolls grew slightly, and wages registered solid growth in July, while retail sales tax revenue marginally decreased. Business-cycle index The San Antonio Business-Cycle Index , a gauge of economic conditions in the metro area, increased an annualized 2.5 percent from June to July, narrower than the 3.1 percent rise from May to ...
ISRO has released data from the Chandrayaan-3 mission for global research, celebrating the first anniversary of Indias Moon landing. The data, accessible on the PRADAN portal, includes over 55 gigabytes from Vikram lander and Pragyan rover. President Murmu recognized ISRO's contributions to science and India's growth in her National Space Day address.