Cross Timbers Business Report, Volume 3, Number 1, Winter 1988 Page: 1
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Cross Timbers Business Ieport
Annual data for 1988
STEPHENVILLE BUILDING PERMITS
U.S., Texas picture
improves in 1988
The United States and Texas exhibited
strengthening in their labor sectors during 1988
as the jobless rates for both ended the year at
lower levels than they began. Further evidence
of more robust job markets was found in both
economies' unemployment ratios being below
averages for the year before.
Led by strong growth in the service sec-
tor, the U.S. unemployment rate eased from 5.8
percent in January, 1988 to a fourteen year low
of 5.3 percent in June. Although the jobless
statistic rebounded in July, it returned to the
June level again in October and December. The
nation's unemployment rate averaged 6.2 per-
cent in 1987.
The Texas jobless ratio slipped from 8
percent in January to a 1988 low of 6.3 percent
in July. Some employment losses were experi-
enced in the last half of the year, however, as the
state'sj obless figure crept back to 7.1 percent by
December. Advances in the manufacturing and
service sectors accounted for most of the state's
employment gains last year. In 1987, the Texas
jobless statistic averaged 8.4 percent.
I,1 tem 11 l7 IM
Building permit value
Continuing the trend of the first three
quarters, Stephenville's building permit value
finished 1988 at a level significantly higher that
the anemic figure of the year before. However,
last year's value finished behind the total for
The City of Stephenville issued a total of
233 building permits in 1988, representing a
value of $8,489,281. The fact that several
sizeable building projects were begun last year is
evidenced by the fact that the number of permits
issued was only 3.6 percent higher than the total
of 1987, but the dollar value was 29.8 percent
greater. Last year's permit value was 7.9 per-
cent below the aggregate for 1986.
Inflation's pace moderates over past year
Fueled by rises in prices of food, apparel,
and services, the Consumer Price Index ad-
vanced 4.4 percent during 1988. This rate of
inflation matched the price level increase of the
year before. Rapid price advances in the year's
first six months raised fears of sharply higher
inflation among some observers. However, a
significant slowdown in this year's final two
quarters moderated the overall pace of price
Noting the effect of the drought in the
naion's midsection, the Labor Department re-
ported that food and beverage prices rose 5.1
percent over the year. This was partly offset by
only a 0.5 percent rise in energy prices. Paced by
increases in medical costs, prices of services
rose by 4.8 percent. Apparel prices climbed 4.7
The Consumber Price Index, which is the
nation's most closely followed inflation meas-
ure, is compiled and reported monthly by the
Bureau of Labor Statistics. It ended the year at
a level of 120.5. This implies that a market
basket of goods and services which cost $100 in
the base years of 1982-84 would cost $120.50 in
Volume 3, No. 2
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Tarleton State University. Department of Social Sciences. Cross Timbers Business Report, Volume 3, Number 1, Winter 1988, periodical, Winter 1989; Stephenville, Texas. (texashistory.unt.edu/ark:/67531/metapth298182/m1/1/: accessed January 23, 2019), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting Tarleton State University.