The state’s nonfarm employment rose 2.4 percent from August 2007 to August 2008, up from 2.3 percent for the period from July 2007 to July 2008. But the nation’s economy is still losing jobs. Nonfarm employment for the United States decreased by 0.1 percent from August 2007 to August 2008.
The state’s seasonally adjusted unemployment rate rose from 4.3 percent in August 2007 to 4.7 percent in August 2008. Over the same period, the U.S. seasonally adjusted unemployment rate rose from 4.7 percent to 5.7 percent.
The state’s mining industry, driven by higher oil prices, ranked first in job creation, followed by professional and business services, construction, leisure and hospitality, and education and health services industries.
All Texas metros except Lubbock experienced positive employment growth rates from August 2007 to August 2008. McAllen-Edinburg-Mission ranked first in job creation followed by Odessa, College Station–Bryan, El Paso and Wichita Falls.
The state’s actual unemployment rate in August 2008 was 5 percent. Midland had the lowest unemployment rate followed by Odessa, Amarillo, Abilene and Victoria.
Soure: Real Estate Center