Texas Annual Growth Rate Lower Than U.S.

COLLEGE STATION (Real Estate Center) – Texas gained 186,900 non-agricultural jobs from August 2015 to August 2016, according to the Real Estate Center’s latest Monthly Review of the Texas Economy. That’s an annual growth rate of 1.6 percent, lower than the nation’s growth rate of 1.7 percent.

The non-government sector added 146,300 jobs, an annual growth rate of 1.5 percent compared with 1.9 percent for the nation’s private sector.

Texas’ seasonally adjusted unemployment rate in August was 4.7, up from 4.4 percent in August last year. The nation’s rate decreased from 5.1 to 4.9 percent.

All Texas industries except mining and logging, manufacturing, and the transportation, warehousing, and utilities industry had more jobs. Leisure and hospitality ranked first in job creation followed by financial activities, education and health services, the government sector, trade, and professional and business services.

All Texas metro areas except Odessa, Midland, Texarkana, and Wichita Falls had more jobs this August than last. College Station-Bryan ranked first in job creation followed by Dallas-Plano-Irving, Laredo, Austin-Round Rock, and Brownsville-Harlingen.

The state’s actual unemployment rate was 5 percent. Amarillo had the lowest unemployment rate, followed by Austin-Round Rock, Lubbock, Dallas-Plano-Irving, Sherman-Denison, College Station-Bryan, and San Antonio-New Braunfels.