Texas job growth accelerates

In Industry News by Bradford

Texas is the top wind-producing state with nearly 22,600 megawatts of installed wind power. According to the Department of Energy, 14.8 percent of Texas energy comes from wind power. Read more in today’s RECON. (Photo from Center files.)

COLLEGE STATION (Real Estate Center) – The Texas economy accelerated job creation in July 2018, according to the Real Estate Center’s latest Monthly Review of the Texas Economy.

The state gained 377,100 nonagricultural jobs from July 2017 to July 2018, an annual growth rate of 3.1 percent, higher than the nation’s employment growth rate of 1.6 percent.

The nongovernment sector added 372,700 jobs, an annual growth rate of 3.6 percent, also higher than the nation’s employment growth rate of 1.9 percent in the private sector.

Texas’ seasonally adjusted unemployment rate in July 2018 was 4 percent, lower than the 4.1 percent rate in July 2017. The nation’s rate decreased from 4.3 to 3.9 percent.

All Texas industries except the information industry had more jobs. The mining and logging industry ranked first in job creation followed by construction; professional and business services; leisure and hospitality; and transportation, warehousing, and utilities.

All Texas metro areas except Corpus Christi and Victoria had more jobs. Midland ranked first in job creation followed by Dallas-Plano-Irving, College Station-Bryan, Houston-The Woodlands-Sugar Land, and Tyler.

The state’s actual unemployment rate was 4 percent. Midland had the lowest unemployment rate followed by Amarillo, Odessa, Austin-Round Rock, College Station-Bryan, and Sherman-Denison.