Photo courtesy Hunt Institue
According to the most recent report released Thursday morning by the Hunt Institute for Global Competitiveness at The University of Texas at El Paso, employment, trade at the ports of entry and remittances to Juarez all showed an increase last year.
The institute’s ‘Paso del Norte Economic Indicators Review’ showed increased employment in November compared to October for El Paso and Ciudad Juárez, while employment in Las Cruces remained stagnant.
On a monthly basis, non-farm employment in November continued to increase in El Paso and Ciudad Juárez. El Paso non-farm employment increased by 1.3% (4,200 jobs gained), its second monthly increase in a row, while in Ciudad Juárez employment increased by 0.9% (4,200 jobs gained), its sixth monthly increase in a row.
El Paso increased in the Trade (1,900 jobs gained), Transportation and Utilities (1,500 jobs gained), and Services (1,300 jobs gained) sectors, while decreasing by 400 jobs and 100 jobs in the Manufacturing and Mining and Construction sectors, respectively.
In Las Cruces, the Transportation and Utilities sector gained 100 jobs, the Services sector lost 100 jobs, and the Manufacturing, Mining and Construction, and Trade sectors exhibited no change.
In Ciudad Juárez, all sectors except Services increased on a monthly basis in November, led by Manufacturing and Trade with gains of approximately 4,100 jobs and 400 jobs, respectively.
The review also indicated that El Paso PoE was the only port of entry to increase in total trade in November compared to October across top U.S.-Mexico border ports.
Of the top 10 U.S.-Mexico border ports of entry for total merchandise trade value, El Paso port of entry (PoE) was the only one to exhibit an increase in November with respect to the month prior. After six months of consecutive month-over-month increases, Laredo recorded the largest trade value decrease across these ports at $1.5 billion (-6.9%).
However, when compared to November 2019, El Paso PoE witnessed the largest decrease at $4.7 billion (-72.9%), followed by Santa Teresa with a loss of $233 million (-10.2%). Laredo, Hidalgo, Eagle Pass, and Otay Mesa were the only ports to increase in November on a yearover-year basis, with increases of $1 billion (5.3%), $205 million (6.9%), $164 million (6.5%), and $79 million (1.9%), respectively
The report also shows that Ciudad Juárez received $50 million more in remittances during the first nine months of 2020 period on a year-over-year basis.
The review points to “the integration of border sister communities, operations that were usually conducted in person have transitioned to
remote transactions due to current inland travel restrictions across the U.S. border, leading to increased electronic money transfers.”