Page 94 - Southlake FY24 Budget

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% 4.1% 3.0% 3.4%

City Profile
4.0%

3.0%

2.0%

1.0%

0.0%
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023*
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 (4.1%) rate.

Year Unemployment Rate Year Unemployment Rate

2010 7.1% 2017 3.4%
2011 6.6% 2018 3.3%
2012 5.7% 2019 3.1%
2013 5.3% 2020 5.0%
2014 4.4% 2021 4.1%
2015 3.6% 2022 3.0%
2016 3.2% 2023* 3.4%

94 FY 2024 City of Southlake | Budget Book