Extending Economics

Some of the most interesting and enlightening discoveries come where disciplines converge.  Experts in one field who can see applications in other areas often give us new understanding of complex issues.  The work of Dr. Gary S. Becker broke new ground in applying economic tools to other social sciences, generating theories and ideas on topics ranging from family dynamics to discrimination to criminal behavior.  I was saddened to learn of his recent death at the age of 83.  Our paths only crossed a few times, but I always found him fascinating.

Local unemployment numbers down from 2013

Data released monthly by the Texas Workforce Commission, shows a decrease in unemployment for the Golden Triangle from 2013 – 2014.

The data from the LMCI’s Economic Profiles, give a brief fact filled one-page snapshot of an area economy on a monthly basis. The profile covers Metropolitan Statistical Areas (MSA), Texas as a whole, and by industry.

Beaumont decreased from an unemployment percentage of 9.4 in February of 2013 to 8.1 in February 2014. Unemployment in Beaumont decreased 1.3% between 2013-2014, according to the TWC data.

Baker Hughes releases weekly rig count

Baker Hughes Inc., oilfield services company out of Houston, released their weekly rig report showing the number of rigs exploring for oil and natural gas in the U.S. decreased by 7 last week, bringing the count down to 1854.

In the weekly rig report released Friday, May 2nd, the firm said of those 1,854 rigs, 1,527 are exploring for oil, 323 for gas, and 4 were listed as miscellaneous.

The same time last year, the U.S. rig count was 1,764, a yearly increase of 90 rigs.

Local design firm invests $1 MM in Calder Avenue

Come Spring 2015, Calder Avenue will have a new event center by K & K Designs. This is a major investment in the seemingly vacant east end of Calder Avenue.

Located at 1315 Calder, the vintage plantation style event center, will be just under 6,000 square feet. The building will feature a traditional parlor, dining rooms, enclosed courtyard, and a ballroom that will accommodate events of up to 200 – 220 people, with modern amenities throughout.  Clients will have the option of an outdoors event, with the landscaped gardens and grounds K & K Designs has planned.