Live Oak County
BY THE NUMBERS
2013
Population
11,799
Employment
7,102
Unemployment Rate
4.0%
Wages Per Employee
$55,988
Average Personal Income
$50,788
Sales Volume ($ mil)
5,096
New Home Value
$161,500
— % National Average
72%
The communities
Employment Growth
in Live Oak county,
10
particularly Three
Rivers, have been
8
experiencing much
6
of the impact
from the recent
4
boom in oil and
gas drilling. With
2
three oil and four
gas rigs currently
2008
2009
2010
2011
2012
2013
0
2008
in operation, the
county is part of the
Eagle Ford Shale
production zone. Six of those seven rigs
significant advancement since 2010,
are operated with the horizontal drilling
when its local oil and gas production took
method. With economic growth at a
off. Since 2008, businesses have added
record pace, most economic indicators,
about 1,400 jobs, or nearly 50 percent of
such as employment and earnings, show
the county’s total employment.
Industry Composition by Employment, 2013
Unclassified
Industry Agriculture
1.7%
0.2%
Other Services
(except Public
Admin)
2.2%
Accommodation
& Food Services
10.1%
Government
17.9%
Arts & Recreation
0.2%
Educational
Services
(Private)
0.0%
Administrative &
Management of
Support
Businesses
1.7%
0.0%
Finance &
Professional
Insurance
& Scientific Real Estate &
2.7% Information
Rental
Services
0.2%
1.4%
2.2%
Mining
29.1%
Health Care &
Social Assistance
4.0%
Utilities
0.4%
Retail Trade
9.2%
Transportation &
Warehousing
3.9%
Construction
3.2%
Change
From 2012
1.2%
3.1%
-0.2%
5.8%
15.4%
3.7%
0.0%
Change
From 2008
2.8%
46.4%
-0.3%
33.9%
75.7%
83.2%
116.2%
Unemployment Rate
U.S.
Texas
2009
2010
2011
2012
2013
Employment in Live Oak county
has expanded rapidly along with the
acceleration of shale oil and gas drilling
activity. The county added more than 10
percent in employment during 2011 and
2012, before showing signs of a slowdown
in late 2013. With little slack in its labor
market, the county’s unemployment
dipped to around 4 percent in 2013.
As the local economy is reaching full
employment, further expansion among
businesses would not reduce the number
of unemployed further. In this case, most
unemployment would be a result of
mismatches of skills, instead of a lack of
workforce demand.
Manufacturing
6.7%
Wholesale Trade
2.9%
Annual Review of the South Texas Economy – 2014 Edition
|
23