State, National Economies Growing (but more slowly)

COLLEGE STATION (Real Estate Center) – The Texas economy gained 218,400 nonagricultural jobs from September 2014 to September 2015, an annual growth rate of 1.9 percent (rounded). According to our latest Monthly Review of the Texas Economy, that’s close to the nation’s growth rate, which also rounded to 1.9 percent.
 
The nongovernment sector added 198,600 jobs, an annual growth rate of 2 percent compared with 2.1 percent for the nation’s private sector.
 
Texas’ seasonally adjusted unemployment rate fell to 4.2 percent in September 2015 from 4.8 percent in September 2014. The nation’s rate decreased from 5.9 to 5.1 percent.
 
All Texas industries except mining and logging and manufacturing had more jobs. The state’s education and health services industry ranked first in job creation followed by leisure and hospitality, information, professional and business services, and the trade industry.
 
All Texas metro areas except Wichita Falls and Texarkana had more jobs. San Antonio-New Braunfels ranked first in job creation, followed by Dallas-Plano-Irving, Victoria, McAllen-Edinburg-Mission, Austin-Round Rock and Beaumont-Port Arthur.
 
The state’s not seasonally-adjusted unemployment rate was 4.4 percent. Amarillo had the lowest unemployment rate, followed by Austin-Round Rock, Midland, Lubbock, College Station-Bryan and San Antonio-New Braunfels.
 
This article originally published with Texas Real Estate Center, Texas A&M.

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