Lubbock economy won't take big hit from Reagor-Dykes bankruptcy

Lubbock economy won't take big hit from Reagor-Dykes bankruptcy filing

LUBBOCK, Texas -

In the midst of the Reagor-Dykes bankruptcy process, the employment rate in Lubbock continues to rise. 

John Osborne, with the Lubbock Economic Development Alliance (LEDA), says the economy is still in good shape. 

"We are currently still under four percent in the unemployment rate so for all intents and purposes, four percent is looked at as being fully employed," Osborne said. 

According to the Texas Workforce Commission, job growth in Texas is up 3.1 percent. That number also applies to Lubbock County. 

"Reasons why companies are trying to expand to an area or looking to relocate, or even expand within an area, one of the top reasons is availability of workforce and the skills and talents of that work force," Osborne said. 

Martin Aguirre, with Workforce Solutions, says the numbers are deflated since people employed by school districts are considered unemployed in the summer when school is out of session.

"In August when all the schools start coming back and start hiring all of the service workers, the cafeterias, the bus drivers, the janitorial workers, and the teachers. Teachers are the largest sectors in the school and they'll get re-hired in august," Aguirre said. 

Aguirre says the trickle down loss of jobs cushions the blow. 

"The market is good, we can absorb that many employees. It's not all at one time. I assume it is all going to be trickled in," Aguirre said. 

LEDA has provided an easy and user friendly outlet to find jobs right here.

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