Texas Job Growth Continues, Despite Lower Oil Prices
published on June 8, 2015
Jobs numbers continue to go up in Texas, despite lower oil prices, according to the Monthly Review of the Texas Economy by the Real Estate Center at Texas A&M University.
From April 2014 to April 2015, the state gained 304,200 nonagricultural jobs, an annual growth rate of 2.6 percent. This is .4 percent higher than the United States job growth rate, which was at 2.2 percent.
In this same time period, the nongovernment job sector in Texas grew by 282,200 jobs, an annual growth rate of 2.9 percent. Nationally, the nongovernment job sector grew by 2.6 percent.
Texas’ seasonally adjusted unemployment rate fell to 4.2 percent in April 2015 from 5.2 percent in April 2014. The nation’s rate decreased from 6.2 to 5.4 percent
All of Texas’ industries, except the manufacturing sector and the sector that includes oil and gas (mining and logging) increased their number of jobs. First in job growth was the leisure and hospitality industry. This was followed by construction and transportation, warehousing, and utilities.
The April 2015 unemployment rate in Texas was four percent. The Texas city with the lowest unemployment rate was Amarillo, followed by Midland, Austin-Round Rock, Lubbock, College Station-Bryan, and San Antonio-New Braunfels.
Almost all Texas cities had more jobs in this time period. The only exceptions were the metro areas of Texarkana, Wichita Falls, and College Station-Bryan. Odessa, Texas ranked first in job creation and was followed by Midland, Dallas-Plano-Irving, Corpus Christi, and Beaumont-Port Arthur.
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