The Texas economy added nonagricultural jobs at a rate of 2.4 percent from October 2018 to October 2019, one percent higher than the national job growth rate, according to the Real Estate Center at Texas A&M University. Nongovernment jobs in Texas increased at a rate of 2.7 percent, compared to 1.5 percent in the United States. The Texas unemployment rate dropped from 3.7 percent in October 2018 to 3.4 percent in October 2019, compared to a 3.8 percent to 3.6 percent decline nationally.
Construction jobs were the biggest winner in Texas, adding 51,400 jobs for a 6.9 percent increase.
All the major metropolitan areas in Texas experienced job growth in the period of October 2019 to October 2018, with the exception of Wichita Falls, Longview, and Victoria. San Antonio-New Braunfels was first with 3.4 percent growth in jobs, Dallas-Plano-Irving was second with 3.3 percent growth in jobs, and McAllen-Edinburg-Mission was third with 3.2 percent growth in jobs. Killeen-Temple-Fort Hood and Houston-The Woodlands-Sugar Land rounded out the top five. Austin-Round Rock was sixth with 2.5 percent growth.
As of October 2019, Midland had the state’s lowest unemployment rate at 2.1 percent, while Amarillo was second with 2.4 percent. Austin-Round Rock, College Station-Bryan, and Lubbock tied for third with 2.6 percent.
From October 2018 to October 2019, Austin experienced its largest industry growth rate in the area of Mining and Construction, with 6.42 percent growth. “Other Services” experienced 6.39 percent growth in Austin, while Leisure and Hospitality experienced 4.76 percent growth. All sectors in Austin experienced some level of growth, except for Education and Health Services.