Labor Market Intelligence
Coastal Bend Sees Growth in Key Sectors Amid Shifting Trends
November 2024 LMI
**Released December 20, 2024. Reflects data up to November 2024. **
Month-Over-Month Shifts
In the Texas Workforce Commission’s November 2024 labor market report, the Coastal Bend region’s unemployment rate slightly rose 0.1 percentage point from 4.5% to 4.6%. Among the eleven counties within the Coastal Bend region, three counties reported a decrease in unemployment during this period.
As of November 2024, the region’s unemployment rate of 4.6% reflects 12,295 residents actively seeking employment, with 11,129 job openings across a variety of industries.
Year-Over-Year Changes
The Coastal Bend region experienced a year-over-year increase in unemployment, rising by 0.7 percentage points from 3.9% in November 2023 to 4.6% in November 2024.
This trend mirrors the state and national pattern, where the unemployment rate grew slightly, signaling a positive broader labor market recovery and adjustment both locally and nationwide.
Comparison with State and National Trends
Month-Over-Month
- Texas: The non-seasonally adjusted unemployment rate witnessed a 0.1 percentage increase from 4.1% in October 2024 to 4.2% in November 2024.
- Nationally: The non-seasonally adjusted unemployment rate also had a 0.1 percentage increase from 3.9% to 4.0%.
Year-Over-Year
- Texas: The unemployment rate increased by 0.7 percentage points, from 3.5%in November 2023 to 4.2% in November 2024.
- Nationally: The unemployment rate rose by 0.5 percentage points, from 3.5% in November 2023 to 4.0% in November 2024.
Texas Labor Market Growth
Texas’ civilian labor force achieved another new record high in November. In addition, Texas’ seasonally adjusted total nonfarm employment increased to 14,286,700 after 9,100 jobs were added over the month. Texas added 274,300 jobs from November 2023 to November 2024. Texas’ annual nonfarm growth rate reached 2.0%, outpacing the U.S. growth rate by 0.6 percentage points.
Sectors Driving Growth
Both the Coastal Bend region and the Corpus Christi Metropolitan Statistical Area (MSA) displayed growth in diverse industries, weekly wages, and year-over-year employment statistics.
The Financial Activities sector experienced a 2.0% increase across the region, while both the Manufacturing and Education and Health Services sectors saw a 1.1% year-over-year growth compared to November 2023.
In the Corpus Christi MSA, the Financial Activities sector led year-over-year growth with a 4.3% increase from 2023 to 2024, followed closely by the Other Services sector, which grew by 3.1% during the same period.
Local Resources
Job seekers in the region can explore 11,129 job openings, including 3,195 newly added job postings across various industry sectors. To access these opportunities, register at WorkinTexas.com, visit our website at wfscb.org, email us at Info@workforcesolutionscb.org, or stop by one of our Workforce Career Centers. For assistance, call 888-860-JOBS (5627).
Labor Market Information Definitions
Not Seasonally Adjusted (Actual) – Data has not been subjected to the seasonal adjustment process. In other words, the effects of regular or seasonal patterns have not been removed from these series. Not seasonally adjusted data is available for smaller geographies, where seasonally adjusted is only available down to the state level. Use this data to view raw numbers, and for geographies smaller than state level.
Seasonally Adjusted – Total employment and unemployment vary throughout the year. For example, higher unemployment in January and February isn’t uncommon because of work in agriculture, construction and other seasonal industries slowing down. Also, both employment and unemployment rise every June, when students enter the labor force in search of summer jobs. Seasonally adjusted numbers also take into account seasonal hiring/layoff patterns that go along with winter and summer holidays. Use this data for month-to-month comparisons for Texas and the United States.
Labor Force – Residents who are at least 16 years old, not serving in the military or institutionalized, and employed or seeking employment.
Download Targeted Occupations List 2024-2025 (PDF)
The targeted occupations list is developed by Workforce Solutions of the Coastal Bend for the most effective use of local workforce development resources. Sources of information for the target list are local area employers, economic development entities, chambers of commerce, community partners, Texas Workforce Commission labor market information regarding the Coastal Bend Counties, and knowledge gained from continuous contact with the above sources.
Workforce Solutions of the Coastal Bend’s Strategic Business Plan 2021-2025 has been updated to comply with Workforce Innovation and Opportunity Act (WIOA) regulations. The final draft has been approved by the Texas Workforce Commission.
Written comments were submitted electronically, delivered via mail or in-person to the Board Administrative offices, Chief Operating Officer at 400 Mann St. Suite 800, Corpus Christi TX 78401
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