The Texas economy is cooling but still generating more jobs than the U.S. average. Texas nonfarm employment rose 2 percent from October 2006 to October 2007 compared with the 1.2 annual growth rate of nonfarm employment for the United States.
The state’s seasonally adjusted unemployment rate fell from 4.8 percent in October 2006 to 4.1 percent in October 2007.
The state’s mining industry ranked first in job creation, followed by professional and business services, leisure and hospitality, and financial activities.
All Texas metro areas reported positive employment growth rates from October 2006 to October 2007. McAllen-Edinburg-Mission ranked first in job creation, followed by Austin–Round Rock, Lubbock, Dallas-Plano-Irving and Midland.
Midland had the lowest unemployment rate, followed by Amarillo, Lubbock, Odessa, College Station–Bryan, Abilene and Austin–Round Rock.