El Paso Economic Indicators

Employment in El Paso expanded in the three months ending in March. The unemployment rate was unchanged and average hourly earnings increased, though at a slower pace than in January. Home prices were little changed and inventories ticked up.

Labor market

Employment increases

Payroll employment in El Paso increased an annualized 2.0 percent (1,800 jobs) from December through March (Chart 1). The greatest job gains were in professional and business services (750 jobs), leisure and hospitality (540 jobs) and education and health services (270 jobs). Construction and mining experienced the greatest job losses (-100 jobs). Year over year, payroll employment in El Paso was little changed.

Unemployment unchanged

El Paso’s unemployment rate was flat in March at 4.3 percent (Chart 2). El Paso’s jobless rate is now the same as both the state and the nation.

Wages increase

El Paso’s average hourly wages were $25.92 in March, an 8.0 percent increase from March 2025 (Chart 3). The state and nation also recorded year-over-year wage growth, with wages rising 2.1 percent in Texas and 3.5 percent in the U.S. in March. Average hourly wages in March were $35.09 in Texas and $37.38 in the U.S.

Housing

El Paso’s median home price declined 0.2 percent in March to $277,947 (Chart 4). Year over year, home prices rose 0.5 percent in the metro area and fell 4.4 percent in the state. El Paso inventories ticked up to 3.9 months in March, remaining below the six months that is generally considered a balanced housing market. Home inventory levels in El Paso have decreased from 4.2 months in March of last year. The state’s home inventories have increased year over year, ticking up to 4.4 months from 4.3 months in March of last year.

Notes

Data may not match previously published numbers due to revisions. The El Paso metropolitan statistical area includes El Paso and Hudspeth counties.