Texas Job Growth Outpaces U.S.
Posted by Regent Property Group on Friday, November 30th, 2018 at 3:12pm. 269 Views
Nonagricultural job growth in Texas nearly doubled that of the United States, with a 3.1 percent increase from October 2017 to October 2018, compared to 1.7 percent for the U.S., according to the Real Estate Center at Texas A&M’s Monthly Review of the Texas Economy. Nongovernment jobs also increased: 3.7 percent in Texas compared to two percent in the U.S.
Texas unemployment was 3.7 percent in October 2018, down from 3.9 percent in October 2017. National unemployment decreased from 4.1 percent to 3.7 percent.
Midland experienced the largest percent growth in employment among Texas metros, at 9.3 percent. Tyler, Houston-The Woodlands-Sugar Land, Austin-Round Rock, Sherman-Denison, and Dallas-Plano-Irving followed, all 3.1 percent or higher. Austin-Round Rock experienced 3.9 percent growth in employment.
Mining and logging jobs had the biggest jump, with a 17.18 percent increase. Construction was second with a 6.92 percent increase. The information industry was the only negative, with 2.3 percent fewer jobs than the previous year.
Houston-The Woodlands-Sugar Land was the largest home for jobs among the Texas metros at 24.8 percent of the state total, followed by Dallas-Plano-Irving (21.1 percent), Austin-Round Rock (8.5 percent), Fort Worth-Arlington (8.4 percent), San Antonio-New Braunfels (8.3 percent), El Paso (2.5 percent), and McAllen-Edinburg-Mission (2.1 percent).
Midland had the lowest unemployment rate, at 2.1 percent. Amarillo and Odessa tied for second with 2.5 percent. Austin-Round Rock, College Station-Bryan, and Lubbock tied for fourth with 2.7 percent.
Austin had positive employment rates in every industry except manufacturing. Austin’s largest employment growth was seen in the mining and construction industry, with an 8.89 percent increase. Trade, Transportation, and Utilities were second in Austin with a 7.14 percent increase.
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