**EL PASO, Texas (KFOX14/CBS4)** — It appears, despite what might initially look like a spot of bother, the economy in El Paso is holding its own rather well. In fact, according to a freshly minted report, things are looking rather optimistic.
Bankruptcy Trends
Our good chap, John Gibson, an associate professor of economics from the University of Texas at El Paso, has more insight into this matter. He also happens to be the research director for the Hunt Institute. John shared his thoughts about the current economic scenario in the district, particularly focusing on the uptick in bankruptcy filings.
According to John, the Hunt Institute crafted the December “Paso Del Norte Economic Indicator Review” report. This thorough monthly analysis addresses various economic facets in El Paso.
“We examined several Texan cities and discovered all with increased bankruptcy filings,” he mentioned. Interestingly, El Paso witnessed the smallest uptick in percentage terms. This suggests a robust local economy despite the apparently troubling statistics.
Employment Insights
Furthermore, John believes that employment prospects in El Paso remain promising. The report brought to light an increase of 11,000 jobs in the region, predominantly in the service, utility, and transportation sectors.
Spare a thought for Juarez though, just across the border; they saw a reduction of 13,000 jobs. This decline chiefly stemmed from setbacks in mining, manufacturing, and construction sectors.
Economic Balance
This slump in manufacturing is likely to ripple into El Paso, affecting employment numbers. However, John is hopeful that the marked rise in other sectors will serve as a counterbalance. Keep an eye on how this balancing act unfolds. For more information on how these trends are evolving, you might find it useful to peruse [US Bureau of Labor Statistics](https://www.bls.gov/).
Further Readings & Updates
- Paul L. Foster Family Foundation pledges $2.5M to support UTEP’s Mountain West transition
- El Paso city employees to receive minimum wage increase
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Gingerly peruse the finer details, and you’ll notice, despite a few wrinkles, El Paso’s economy reflects the resilience typical of this splendid community.
