Monthly Review of Texas Economy-September 2011

Texas continues to outperform the United States in job creation. Texas gained 271,400 nonfarm jobs from August 2010 to August 2011, an annual growth rate of 2.6% compared with 1% for the United States. The state’s private sector added 284,200 jobs, an annual growth rate of 3.3% compared with 1.6% for the nation’s private sector.

Texas jobs created from August 2010 to August 2011 accounted for 21.1% of total nonfarm jobs created in the U.S.  Texas’ seasonally adjusted unemployment rate increased to 8.5% in August 2011 from 8.2 in August 2010.

The nation’s rate decreased from 9.6 to 9.1%.  All Texas industries except the information industry and the state’s government sector had more jobs in August 2011 than in August 2010.

The Austin-Round Rock-San Marcos metro area’s annual employment growth rate from August 2010 to August 2011 was 2%, ranking it 11th in Texas.   

Source: Real Estate Center @ Texas A&M University; http://recenter.tamu.edu/pdf/1862.pdf