Page 101 - Southlake FY22 Budget

CITY PrOFILE

unemPlOymenT in sOuThlake

8.0%

7.1%
7.0%
6.6%
6.1% 5.7% 5.3%
6.0%
SOUTHALKE ANNUAL UNEMPLOYMENT RATE 5.0% 4.3% 4.4% 3.6% 3.2% 3.4% 3.3% 3.1% 5.0% 4.0%

4.0%

3.0%

2.0%

1.0%

0.0%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021*
*2020 unemployment information provided is as of June 2020
Warning Trend: Increasing rate of local Calendar Year
unemployment in the community

Unemployment rate is an important indicator in measuring the health of a local economy. Changes in the unemployment
rate are related to changes in personal income, and are thus a measure of, and an influence on, the community’s ability
to support its business sector. Southlake’s unemployment has historically been below that of the DFW market and has
declined since its peak in 2010. In 2021, unemployement is higher than in recent years due to the economic impacts
of the COVID-19 pandemic, but has improved since 2020. We continue to see that the Southlake unemployment
continues to trend below the state (6.8%) and national (6.2%) rates.

Year Unemployment Rate
2008 4.3%
2009 6.1%
2010 7.1%
2011 6.6%
2012 5.7%
2013 5.3%
2014 4.4%
2015 3.6%
2016 3.2%
2017 3.4%
2018 3.3%
2019 3.1%
2020 5.0%
2021* 4.0%
100 FY 2022 City of Southlake | BUDGET BOOK
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