region has more than recovered all the jobs lost during the recession
The San Antonio economy is in the best shape it's been in in five years, according to figures released by the Greater Chamber of Commerce, 1200 WOAI news reports.
"Sales tax growth is at a record level, both in the amount of money that is actually going through the economy, as well as growth rates year after year, which right now is at 10.6 (percent growth over last year) which is in record territory," economist Travis Tullos with Texas Perspectives told the Chamber.
Chamber CEO Richard Perez says the numbers couldn't be better.
"Most economists agree that San Antonio has emerged fully out of the recession, and is now showcased as one of the most vibrant economies in the country," Perez said.
Tullos said in many ways the outlying counties in the metro are growing even faster than the city, due largely to the influence of the Eagle Ford Shale oil and gas boom.
"San Antonio is second only to Houston," Tullos said. "We're emerging as a more private sector oriented, more business cycle oriented community. We're adding assets at a phenomenal rate."
Perez said investments from the Department of Defense, as well as an attractive economic location and a diverse industry mix helped weather the storm.
"Since 2009, we endured job losses and shuttered doors, however, ours was only a minor version of the intensity seen across the nation and around the world," he said.
Tullos says the region's unemployment rate has fallen sharply to pre-recession levels, despite the fact that thousands of people have moved here since the recession began, attracted by plentiful jobs in the region.
He says the real problem the area faces is a work force which is not capable of handling the jobs that are available.
"There's structural employment, meaning people don't have the skills and the education to fill the jobs that are growing," he said.