Texas is a Job Creator

COLLEGE STATION (Real Estate Center) – July 27, 2018 – The Texas economy gained 359,500 nonagricultural jobs from June 2017 to June 2018, an annual growth rate of 2.9 percent, higher than the nation’s employment growth rate of 1.6 percent.

According to the Real Estate Center’s latest Monthly Review of the Texas Economy, the nongovernment sector added 351,700 jobs, an annual growth rate of 3.4 percent, also higher than the nation’s employment growth rate of 1.9 percent in the private sector.

Texas’ seasonally adjusted unemployment rate in June 2018 was 4 percent, lower than the 4.2 percent rate in June 2017. The nation’s rate decreased from 4.4 to 4 percent.

All Texas industries except the information industry had more jobs. The mining and logging industry ranked first in job creation followed by construction; professional and business services; leisure and hospitality; transportation, warehousing, and utilities; manufacturing; education and health services; and financial activities.

All Texas metro areas except Longview, Beaumont-Port Arthur, Corpus Christi, and Victoria had more jobs. Midland ranked first in job creation followed by College-Station-Bryan, Odessa, Dallas-Plano-Irving, Austin-Round Rock, and Houston-The Woodlands-Sugar Land.

The state’s actual unemployment rate last month was 4.2 percent. Midland had the lowest unemployment rate followed by Amarillo, Austin-Round Rock, Odessa, and College Station-Bryan.