Cross Timbers Business Report, Volume 5, Number 2, Winter 1991 Page: 1
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Cross Timbers Business Report
Volume 5, No. 2
Winter, 1991
U.S., Texas Jobless Rates Soar
Layoffs in most job classifications pushed the U.S.
and Texas unemployment rates sharply higher in the final
three months of 1990. This increase accelerated a weaken-
ing labor market trend which began at mid-year, and has
prompted virtually unanimous agreement that the economy
is in recession.
According to the Bureau of Labor Statistics, the
nation's jobless ratio climbed from 5.7 percent in October
to 5.9 percent in November to 6.1 percent in December.
The manufacturing and construction sectors were the hard-
est hit in the year's final three months. Job losses were also
reported in the service sector, which had appeared immune
to recessionary pressures until earlier this year. The only
major industry reporting employment gains over this time
span was health services.
UNEMPLOYMENT RATES
U.S. Texas
2
0o
Oct Nov Dc Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Doe
I 18 1990
Source U.. bureau of Labor tatisticsl
The U.S. labor market has shown gradual deteriora-
tion since June, when the idleness rate was 5.2 percent.
Since that month, more than one million Americans have
lost their jobs. Last year's average 5.5 percent unemploy-
ment rate compares unfavorably to the 5.2 percent figure
posted the year before.
Texas also reported deteriorating labor market con-
ditions in 1990's final quarter. The state's idleness ratio
jumped from 5.7 percent in October to 7 percent in No-
vember to 7.2 percent in December. Manufacturing and
financial services were the biggest losers over this time
span. Weakness was also found in retail sales and the
service sector. The Middle East crisis aided the Texas
economy in some respects, pushing up the price of crude oiland slowing defense industry layoffs.
Despite the quarter's weakness, the Texas labor mar-
ket was stronger last year than in 1989. The average 6.2
percent jobless rate for 1990 was one half percentage point
below the figure reported the year before.
Lower Prices
Reduce Milk Revenues
A total of 254.4 million pounds of milk was produced
on Erath county's 186 dairy farms in the fourth quarter of
1990. This output brought the area's annual total to 992.5
million pounds. Last year's output was 12.1 percent
above the figure reported the year before, and 29.8
percent greater than the aggregate for 1988. The
county retained its position as the state's largest
milk producer over the October-December time span.
Wholesale milk sales are a very important part
of the county's economy, generating estimated di-
rect revenues of $143.6 million in 1990. Last year's
sales were 18.4 percent above the figure for the year
before, and 43 percent above 1988 value. Despite
output advances, weakening milk prices contributed
to declining monthly revenues over most of last
year. Receipts fell from an estimated $13.4 million
in January to $10.4 million in December.
WHOLESALE MILK SALES
Area Counties
S Ill nl of Dolls
1*
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
. .190
J9 a.d on Too MbMarpr..t J lpoAt DS Ot
1 I0" '
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Tarleton State University. Department of Social Sciences. Cross Timbers Business Report, Volume 5, Number 2, Winter 1991, periodical, Winter 1991; Stephenville, Texas. (https://texashistory.unt.edu/ark:/67531/metapth298189/m1/1/: accessed April 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Tarleton State University.