{"content":[{"text":"Lubbock Economic Index \n And \n Consumer Price Index \n June/2nd Quarter 2018","bbox":{"left":0.374199,"top":0.225457,"width":0.251573,"height":0.07969700000000005}},{"text":"The Lubbock Economic Index rebounded in June increasing to 151.8 for the month up from 151.2 in \n May, and up 0.8% from the June 2017 LEI of 150.6. The all-time index peak remains at 151.9, achieved \n in April of this year. The June recovery, following a decline in May, aided the quarterly outcome over \n which the Lubbock Economic Index improved at an annualized 2.0% pace in the second quarter of the \n year. The index is based at 100.0 in January 1996.","bbox":{"left":0.117686,"top":0.318415,"width":0.754409,"height":0.08253500000000003}},{"text":"General taxable spending was flat in June compared to year-ago levels and is slightly improved for the \n second quarter and year-to-date. Auto sales continue to reflect strong improvement along with \n hotel/motel activity and airline passenger enplanements at Lubbock International Airport. The pace of \n employment growth hastened in June and the unemployment rate remains on the decline midway through \n 2018. Total construction and homebuilding were the only negatives on the chart for the second quarter \n and year-to-date compared to the record numbers from a year ago. However, residential real estate sales \n set new records for the month, second quarter, and first half of the year 2018.","bbox":{"left":0.117686,"top":0.414324,"width":0.758802,"height":0.11435300000000004}},{"text":"CONCURRENT trends in two broad measures of the Lubbock economy best represent its current and \n ongoing health and status, and these are general consumer spending (retail sales) and payroll employment.","bbox":{"left":0.117686,"top":0.542077,"width":0.7645,"height":0.03450399999999998}},{"text":"-","bbox":{"left":0.176503,"top":0.588592,"width":0.006007000000000012,"height":0.018595000000000028}},{"text":"General real (inflation-adjusted) spending per Lubbock sales tax receipts in June were \n statistically unchanged compared to June of a year ago, while spending per second quarter \n sales tax receipts was up by about 1.1%. Midway through 2018 general real taxable spending \n is up by 1.2% compared to the first six months of a year ago. Actual sales tax receipts are up \n by about 3.1% through June 2018 but inflation takes a bite out of that growth rate. The \n ongoing adjustments for inflation and other statistical phenomena make the Lubbock \n Economic Index and its various components comparable from period to period and over the \n long term.","bbox":{"left":0.205915,"top":0.588592,"width":0.674234,"height":0.130413}},{"text":"-","bbox":{"left":0.176503,"top":0.732228,"width":0.006007000000000012,"height":0.018595000000000028}},{"text":"The rate of year-over-year employment growth was revised upward in May to 2.2% \n compared to the original 2.0%, and then spiked upward in June with the monthly payroll \n employment estimate up by 2.9% compared to June 2017, reflecting the addition of about \n 4,200 jobs over the last year. The increase vaulted Lubbock into the top 10 among Texas \n metro areas in terms of the rate of year-over-year job growth in June. The unemployment \n rate was below 4% in June for only the second time on record (the first was June 2017) and \n fell to 3.6% in June compared to 3.7% in June of a year ago.","bbox":{"left":0.205915,"top":0.732228,"width":0.656894,"height":0.11454200000000003}},{"text":"-","bbox":{"left":0.176503,"top":0.86014,"width":0.006007000000000012,"height":0.018595000000000028}}],"images_bbox":[{"left":0.117647,"top":0.090909,"width":0.764493,"height":0.056124}],"images_bbox_not_text_overlap":[{"left":0.117647,"top":0.090909,"width":0.764493,"height":0.056124}]}