Texas’ economy added 166,600 jobs from September 2009 to September 2010, according to the Real Estate Center’s latest Monthly Review of the Texas Economy.
This is an annual growth rate of 1.6 percent. Over the same period, the U.S. economy gained 321,000 jobs, an annual growth rate of 0.2 percent.
The private sector is playing a key role in job creation in Texas. That sector posted an annual employment growth rate of 1.9 percent compared with 0.5 percent for the nation from September 2009 to September 2010.
The state’s seasonally adjusted unemployment rate was 8 percent in September 2010, the same as in September 2009, while the nation’s unemployment rate decreased from 9.8 to 9.6 percent over the same period.
All Texas industries except construction, trade and information had more jobs in September 2010 than in September 2009.
With the exception of Lubbock, all Texas metro areas had more jobs in September 2010 than in September 2009. Waco ranked first in job creation, followed by Austin-Round Rock-San Marcos, Killeen-Temple-Fort Hood, College Station-Bryan and McAllen-Edinburg-Mission.
The state’s actual unemployment rate in September 2010 was 7.9 percent. Midland had the lowest unemployment rate followed by Amarillo, Lubbock, College Station-Bryan and Abilene.
Source: Real Estate Center