Lubbock economic index reports impressive increase

Lubbock economic index reports impressive increase

Lubbock continues to have a strong economy.

The Lubbock Economic Index reports another impressive May, rising to 145.3, a 3.7 percent increase from this time last year. An estimated 2,200 more local jobs have been added and the unemployment rate is around 3.2 percent.

Chip Gilmour, Senior Vice President at Lubbock National Bank, said, "We're two points behind the national number as far as unemployment is concerned, here again, that's a positive. There's nothing really negative going on with Lubbock's economy and I bet you this before every decade, Lubbock grows three to five percent and we're exceeding that right now as far as this decade is concerned. So just buckle up and enjoy the ride because times are good." 

The average price of a home is $175,000, compared to $165,000 last year.

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