Saturday, June 20, 2009
The Waco metropolitan area saw its unemployment rate jump to 6 percent in May from 5.5 percent in April, according to the latest figures from the Texas Workforce Commission.
That increase tracks the trend statewide, said TWC labor analyst Robert Crawley, who added that every metropolitan area in Texas saw an increase.
Still, Waco’s unemployment rate of 6 percent is below the state’s 6.9 percent. The state’s number, meanwhile, is below the national unemployment rate of 9.1 percent.
“We’re still dealing with a challenging economy,” said Scott Connell, senior vice president for strategic development at the Greater Waco Chamber of Commerce.
Connell said he expects the unemployment rate to ride a roller-coaster in coming months. Summer typically brings an increase in the rate because of people looking for seasonal work, but Connell said several construction projects could bring work for crafts people and employees to staff the new buildings.
For example, Temple-based Aston Development is picking up the pace on construction of its Hotel Indigo on land bounded by Webster and Clay avenues and Second and Third streets.
Work continues on a new Hilton Homewood Suites in Legends Crossing, the development taking shape near the new Hillcrest Baptist Medical Center at West Loop 340 and Interstate 35. Lisa Monroe, a spokeswoman for Legends, said land has been sold for a second restaurant and a Chuy’s Mexican restaurant.
A new Best Western hotel will be built in The Colonnade, a development on U.S. Highway 84 in Woodway. Carter BloodCare has bought 6.5 acres there with plans to build a 20,000-square-foot center that would add 50 jobs.
Then there is the continued work at Waco Town Square downtown. Work on the 45-unit Austin Avenue Flats is drawing to a close, but the $100 million project includes other phases.
Wells Fargo, meanwhile, has just leveled the old Heart of Texas Council of Governments building at Third Street and Franklin Avenue, where it will build a new banking center.
“We keep track of the dirt and the noise,” said Connell, adding: “A big key to keeping a steady workforce is having one project getting started as another is finishing up.”
The Waco Metropolitan Statistical Area, which includes all McLennan County, continues to see its civilian labor force grow, indicating people saw this area as a good place to find work.
In May 2008, the county’s civilian labor force stood at 110,600, and the unemployment rate was 4.1 percent. This May, the unemployment rate was 6 percent and the labor force stood at 112,400.
mcopeland@wacotrib.com
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Comments
By eye in the sky
Jun 20, 2009 1:58 PM | Link to this
A few new hotels, another mexican restaurant. Plus another bank that isn't really needed. The construction of these facilities might provided temporary needed work for people, but once the facilities are completed, the hotels and the restaurant won't pay very well. They will just keep somebody within the poverty level. Try again Scott Connell.
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