The Texas economy continues to expand at a moderate pace. Texas employment grew at a 1.5 percent annual rate in December and expanded 2 percent in 2011. Housing indicators suggest that the sector continues to heal, and energy activity remains strong. Growth in Texas exports resumed and Texas manufacturing activity increased in January, according to the Texas Manufacturing Outlook Survey. Texas gained 13,600 jobs in December after adding 18,700 jobs in November.
Houston Leads Texas Job Growth
Houston led Texas in job growth for 2011, accounting for one in every three jobs created in the state. The 10-county Houston metro area added 75,800 jobs, a 3.0 percent increase over the previous year. The state created 205,100 jobs, a 2.0 percent increase. Dallas-Fort Worth ranked second among Texas metros, followed by Austin, Corpus Christi and McAllen-Edinburg. Several metros added jobs at a faster pace, but none added as many as Houston.
Nine of 11 sectors in Houston added jobs last year. Only two—information and government—reported losses. Some industries, including oil and gas extraction, oil field services, other services, and professional and business services, added jobs at a robust pace.