Texas’ pace of job creation exceeded the nation’s in November 2016
The state gained 212,600 nonagricultural jobs from November 2015 to November 2016, an annual growth rate of 1.8 percent, higher than the nation’s employment growth rate of 1.6 percent. The nongovernment sector added 173,100 jobs, an annual growth rate of 1.7 percent, the same as for the nation’s private sector.
According to the Real Estate Center’s latest Monthly Review of the Texas Economy, Texas’ seasonally adjusted unemployment rate in November was 4.6 percent, the same rate as a year ago. The nation’s rate decreased from 5 to 4.6 percent.
All Texas industries except mining and logging and manufacturing had more jobs. Education and health services ranked first in job creation followed by leisure and hospitality, financial activities, trade, and the government sector.
All Texas metro areas except Longview, Beaumont-Port Arthur, Texarkana, Odessa, and Wichita Falls had more jobs. Dallas-Plano-Irving and McAllen-Edinburg-Mission ranked first in job creation followed by Brownsville-Harlingen, San Angelo, and College Station-Bryan.
The state’s actual unemployment rate was 4.2 percent. Amarillo, Austin-Round Rock, and Lubbock had the lowest unemployment rate followed by College Station-Bryan, Dallas-Plano-Irving, and Sherman-Denison.
Note: Austin-Round Rock MSA (Metropolitan Statistical Area) includes several surrounding counties including Hays County and the cities within.
This article originally published by Texas Real Estate Center Online.