Texas, aided by a robust private sector, gained 225,200 nonfarm jobs from June 2010 to June 2011, according to the Real Estate Center’s latest Monthly Review of the Texas Economy. That’s an annual growth rate of 2.2 percent compared with 0.9 percent for the United States.
Over the year, the state’s private sector added 251,900 jobs, a growth rate of 3 percent, while the nation’s private sector grew at 1.7 percent.
Texas’ seasonally adjusted unemployment rate increased to 8.2 percent while the nation’s decreased from 9.5 to 9.2 percent.
All Texas industries except the information industry and the state’s government sector had more jobs in June 2011 than in June 2010.
Five Texas metro areas (Killeen-Temple-Fort Hood, Wichita Falls, San Angelo, Brownsville-Harlingen and Abilene) had fewer jobs in June 2011 than in June 2010. Longview ranked first in job creation followed by Odessa, Dallas-Plano-Irving, Laredo, College Station-Bryan, Midland and Corpus Christi.
The state’s actual unemployment rate in June 2011 was 8.8 percent. Midland had the lowest unemployment rate followed by Amarillo, Odessa, San Angelo and College Station-Bryan.
For a different perspective on Texas employment growth, check out USA Today’s recent article featuring Center Chief Economist Dr. Mark Dotzour.
SOURCE: RECON