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

Monthly Review of Texas Economy - July 2011

Based on the most recent “Monthly Review of the Texas Economy”, provided by Real Estate Center of Texas A&M. Texas, aided by a robust private sector, gained 225,200 nonfarm jobs from June 2010 to June 2011, an annual growth rate of 2.2 percent compared with 0.9 percent for the United States. The state’s private sector added 251,900 jobs, an annual growth rate of 3% percent compared with 1.7% for the nation’s private sector.

Texas’ seasonally adjusted unemployment rate increased to 8.2 percent in June 2011 from 8.1 in June 2010. The nation’s rate decreased from 9.5 to 9.2 percent.

The state’s mining and logging industry ranked first in job creation and posted an annual employment growth rate of 16.8 percent from June 2010 to June 2011.

The state’s construction industry ranked second in job creation, adding 30,900 jobs from
June 2010 to June 2011, a 5.4 percent rate increase

The state’s professional and business services industry gained 57,200 jobs from June
2010 to June 2011, an annual growth rate of 4.5 percent

Texas Metropolitan Statistical Areas

Five Texas metro areas (Killeen-Temple-Fort Hood, Wichita Falls, San Angelo,
Brownsville-Harlingen and Abilene) had fewer jobs in June 2011 than in June 2010. Longview ranked first in job creation, followed by Odessa, Dallas-Plano-Irving, Laredo, College Station-Bryan, Midland, and Corpus Christi.

The Austin-Round Rock-San Marcos metro area’s annual employment growth rate from
June 2010 to June 2011 was 1.2 percent, ranking it 16th.