Texas Maintains Record Low Unemployment Rate Of 3.4 Percent For Third Consecutive Month

AUSTIN ? In August, the Texas economy added 18,200 seasonally adjusted Total Nonfarm positions. The unemployment rate held steady at 3.4 percent matching the all-time record low set in June. This record is currently the lowest the unemployment rate has been since series tracking began in 1976.

“Our businesses in Texas continue to thrive every day in a strong economy, and this three-month historic low unemployment rate is encouraging for all Texans,” said TWC Chairman and Commissioner Representing the Public Bryan Daniel. “Texas has created an environment for success, thanks to Governor Abbott’s leadership, and it should continue to support additional business expansion for our broad range of industry employers.”

Texas employers added 303,500 jobs over the year. Total nonfarm annual employment growth was at 2.4 percent in August and has held at or above 2.0 percent since February 2018.

“Our economy is robust, and our workforce is thriving,” said TWC Commissioner Representing Labor Julian Alvarez. “At TWC, we’re working hard to provide each member of our 14 million-strong workforce with opportunities to sharpen their skills, build their careers and keep Texas one of the best places in the country to live and work.”

Leading job growth in August was the Education and Health Services industry adding 8,800 jobs, followed by the Government sector adding 3,400 jobs and then Financial Activities which added 3,200 jobs.

“Texas employers have continued to contribute to our state’s success by adding over 300,000 jobs this year and upholding the historic unemployment rate,” said TWC Commissioner Representing Employers Aaron Demerson. “Our employers commitment to this great state, through their investment and unwavering entrepreneurial spirit, is what makes Texas the best state in the country to do business.”

The Midland Metropolitan Statistical Area (MSA) recorded August’s lowest unemployment rate among Texas MSAs with a non-seasonally adjusted rate of 2.2 percent, followed by the Amarillo MSA at 2.7. The Austin-Round Rock and Odessa MSAs each recorded the third lowest rate at 2.8 percent.