Texas Still Outpacing U.S. In Job Creation

Texas Still Outpacing U.S. In Job Creation…. All Texas industries except the information industry had more jobs…

COLLEGE STATION (Real Estate Center) – The Texas economy continues to outpace the U.S. economy in job creation.

According to the Real Estate Center’s latest Monthly Review of the Texas Economy, the state gained 285,200 nonagricultural jobs from February 2017 to February 2018, an annual growth rate of 2.3 percent, higher than the nation’s employment growth rate of 1.6 percent.

The nongovernment sector added 283,500 jobs, an annual growth rate of 2.8 percent, also higher than the nation’s employment growth rate of 1.8 percent in the private sector.

Texas’ seasonally adjusted unemployment rate in February was 4 percent, lower than the 4.7 percent rate in February 2017. The nation’s rate decreased from 4.7 to 4.1 percent.

All Texas industries except the information industry had more jobs. The mining and logging industry ranked first in job creation followed by construction; transportation, warehousing, and utilities; professional and business services; leisure and hospitality; and financial activities.

All Texas metros except Brownsville-Harlingen, Victoria, Beaumont-Port Arthur, and Corpus Christi had more jobs. Midland ranked first in job creation followed by Odessa, College Station-Bryan, Austin-Round Rock, Dallas-Plano-Irving, Fort Worth-Arlington, and San Antonio-New Braunfels.

The state’s actual unemployment rate was 4.1 percent. Midland had the lowest unemployment rate followed by Amarillo, Austin-Round Rock, College Station-Bryan, Lubbock, and Odessa.

This story originally published by Real Estate Center Online.