Report from Texas A&M shows economy is holding steady in Bryan-College Station
COLLEGE STATION, Texas (KBTX) - Texas A&M’s Private Enterprise Research Center has released their October 2022 edition of “Economic Indicators,” which includes the latest Bryan-College Station Business-Cycle Index.
PERC’s report, which is sponsored by the Brazos Valley Economic Development Corporation, looks at trends in the local economy by analyzing factors such as unemployment rates, travel, student enrollment and the business cycle.
Andrew Rettenmaier, the Executive Associate Director of PERC, says this month’s report indicates the economy is “holding steady.”
“The unemployment rate didn’t change from last month. The taxable sales did go up, and that’s inflation adjusted, so that’s a good thing. But overall, the total employment in the local economy went down, so those three things combined resulted in a pretty flat index for this month,” he explained.
The effects of inflation can be seen in two variables: total wages and taxable sales. Total wages in the local economy didn’t change besides the inflation adjustment, and taxable sales--which went up--are impacted by rising prices. Meanwhile, Rettenmaier says the Federal Reserve’s actions to slow inflation will impact the other economic factors such as the unemployment rate.
“What the Fed is doing may cause a recession, and if it does, that would show up in the unemployment rate,” said Rettenmaier.
Currently the Bryan-College Station area’s unemployment rate is one of the lowest in the state, following only Austin and Amarillo.
Read the report here.
Watch the full interview in the player above.
Copyright 2022 KBTX. All rights reserved.