San Antonio one of only three metropolitan areas to see rise in both personal income & net earnings of residents

August 14, 2010

San Antonio raced past the norm in the U.S. Bureau of Economic Analysis’ 2009 report on personal income, increasing by 0.8 percent, a small but important amount.  “San Antonio is less cyclical than most cities,” said Keith Phillips, senior economist with the Federal Reserve Bank of Dallas in San Antonio. “It’s not hit as hard by recession, and it does not jump as much in the early stages of a recovery. San Antonio is more ‘steady as she goes.’” Phillips also said the health care sector is strong and San Antonio’s financial sector did not suffer the severe blows the sector suffered in other parts of the country. He also said tourism continues to maintain its appeal here.

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