Texas Economy Update
Monthly Review of the Texas EconomyAli Anari (Oct 31, 2016)
Texas gained 207,500 nonagricultural jobs from September 2015 to September 2016, an annual growth rate of 1.7 percent, equal to the nation's growth rate. The nongovernment sector added 166,200 jobs, an annual growth rate of 1.7 percent compared with 1.9 percent for the nation's private sector.
According to the Real Estate Center's latest Monthly Review of the Texas Economy,Texas' seasonally adjusted unemployment rate in September 2016 was 4.8 up from 4.5 percent in September 2015. The nation's rate decreased from 5.1 to 5 percent.
All Texas industries except mining and logging, and manufacturing had more jobs in September 2016 than in September 2015. Leisure and hospitality ranked first in job creation followed by education and health services, financial activities, and the government sector.
All Texas metro areas except Odessa, Texarkana, and Midland had more jobs in September 2016 than in September 2015. Dallas-Plano-Irving ranked first in job creation followed by College Station-Bryan, McAllen-Edinburg-Mission, San Angelo, and Austin-Round Rocks.
The state's actual unemployment rate in September 2016 was 4.8 percent. Amarillo and Austin-Round Rock had the lowest unemployment rate followed by Lubbock, College Station-Bryan, Dallas-Plano-Irving, and Sherman-Denison.