Editor’s Note: Paso del Norte Economic Indicator Review is published monthly by the Hunt Institute for Global Competitiveness at the University of Texas at El Paso. Below are three key takeaways from the March report.
Total nonfarm employment increased in March 2022 year-over-year in El Paso (8,200 jobs or 2.6%), Las Cruces (4,700 jobs or 6.6%) and Juárez (24,800 jobs or 5.2%)
On a monthly basis, non-farm employment in the Paso del Norte region increased slightly in March, with El Paso adding 100 jobs (0.03%), Las Cruces adding 300 jobs (0.4%) and Juárez adding 3 200 jobs (0.6%).
The total number of bankruptcy filings in El Paso fell by 23 cases (-6.6%) in the January to April 2022 period (-6.6%) on a year-over-year basis.
With 326 bankruptcy filings in the first four months of 2022, the total number of bankruptcy filings in El Paso County remains below 2019, 2020 and 2021 levels.
There were 86 bankruptcy filings in April 2022 in El Paso, down four filings (-4.4%) on a monthly basis.
Total trade in the first three months of 2022 between the top 10 ports of entry along the US-Mexico border was $154.1 billion, an increase of $20.3 billion (15 .2%) compared to the previous year.
Imports through the six major ports along the border reached $81.9 billion in the first quarter of 2022. This is a year-over-year increase of $11.3 billion ( 16.1%) compared to 2021.
Exports reached a total of $52.6 billion in the six major ports, an increase of $6.5 billion (14.1%) compared to year over year with the first quarter of 2021.