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COLLEGE STATION (Real Estate Center) – April 25, 2018 – The Texas economy continues to outpace the U.S. economy in job creation. The state gained 294,100 nonagricultural jobs from March 2017 to March 2018, an annual growth rate of 2.4 percent, higher than the nation’s employment growth rate of 1.5 percent.
According to the Real Estate Center’s latest Monthly Review of the Texas Economy, the nongovernment sector added 289,100 jobs, an annual growth rate of 2.8 percent, also higher than the nation’s employment growth rate of 1.8 percent in the private sector.
Texas’ seasonally adjusted unemployment rate in March 2018 was 4 percent, lower than the 4.6 percent rate in March 2017. The nation’s rate decreased from 4.5 to 4.1 percent.
All Texas industries except the information industry had more jobs. The mining and logging industry ranked first in job creation followed by construction; transportation, warehousing, and utilities; professional and business services; leisure and hospitality; and financial activities.
All Texas metro areas except Beaumont-Port Arthur, Brownsville-Harlingen, Corpus Christi, and Victoria had more jobs. Midland ranked first in job creation followed by Odessa, College Station-Bryan, Austin-Round Rock, Dallas-Plano-Irving, Fort Worth-Arlington, and Abilene.
The state’s actual unemployment rate was 4.1 percent. Midland had the lowest unemployment rate followed by Amarillo, College Station-Bryan, Austin-Round Rock, and Odessa.