Texas’ Job Growth Outpaces Nation’s

Texas gained 213,500 nonagricultural jobs from December 2015 to December 2016, an annual growth rate of 1.8 percent, higher than the nation’s employment growth rate of 1.4 percent.

COLLEGE STATION (Real Estate Center) – Texas’ pace of job creation exceeded the nation’s in December 2016. Texas gained 213,500 nonagricultural jobs from December 2015 to December 2016, an annual growth rate of 1.8 percent, higher than the nation’s employment growth rate of 1.4 percent. The nongovernment sector added 173,400 jobs, an annual growth rate of 1.7 percent, higher the nation’s employment growth rate of 1.5 percent in the private sector.

According to the Real Estate Center’s latest Monthly Review of the Texas Economy, Texas’ seasonally adjusted unemployment rate in December 2016 was 4.6 percent, the same rate as in December 2015. The nation’s rate decreased from 5 to 4.7 percent.

All Texas industries except mining and logging, manufacturing, transportation, warehousing, and utilities, and construction had more jobs last month than a year ago. Education and health services ranked first in job creation followed by leisure and hospitality, financial activities, and trade.

All Texas metro areas except Wichita Falls, Texarkana, Beaumont-Port Arthur, Odessa, and Midland had more jobs. Dallas-Plano-Irving ranked first in job creation followed by McAllen-Edinburg-Mission, College Station-Bryan, Waco, Brownsville-Harlingen, San Antonio-New Braunfels.

The state’s actual unemployment rate last month was 4.6 percent. Amarillo, Austin-Round Rock, and Lubbock had the lowest unemployment rate followed by College Station-Bryan, Dallas-Plano-Irving, and Sherman-Denison. 

This article originally published by Texas Real Estate Center Online.