Page 95 - Southlake FY23 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% 4.4% 3.6% 3.2% 3.4% 3.3% 3.1% 5.0% 4.0%

4.0%

3.0%

2.0%

1.0%

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

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. We continue to see that the Southlake unemployment
continues to trend below the state (5.9%) and national (5.4%) rates.

Year Unemployment Rate
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%

94 FY 2023 City of Southlake | BUDGET BOOK
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