Texas Economic Update | January 2011

by CoyDavidson on January 26, 2011

Houston Lagging Texas Economy in Job Growth

The Real Estate Center at Texas A&M released its January 2011 Monthly Report on the the Texas Economy and the state of Texas continues to out perform the broader U.S. Economy. However the Houston metropolitan area is experiencing a slow recovery and lags Dallas, Austin and San Antonio in job growth. In fact, Houston ranked last among all Texas metropolitan areas in job growth from December 2009 to December 2010.

The Texas economy gained 231,700 jobs from December 2009 to December 2010, an annual growth rate of 2.3 percent. Over the same period, U.S. nonfarm employment rose 0.8 percent. Texas’ private sector continues to play a key role in creating jobs. The state’s private sector posted an annual employment growth rate of 2.7 percent compared with 1.2 percent for the U.S. private sector from December 2009 to December 2010.

The state’s seasonally adjusted unemployment rate was 8.3 percent in December 2010, up from 8.2 percent in December 2009, while the nation’s rate decreased from 9.9 to 9.4 percent over the same period.

Non-Farm Employment Growth Rates for Texas and U.S. (2007-2010)

Sources: Texas Workforce Commission | Real Estate Center @ Texas A&M

All Texas industries except trade and information industries had more jobs in December 2010 than in December 2009.

Texas Metropolitan Statistical Areas

All Texas metro areas had more jobs in December 2010 than in December 2009

  • The Austin-Round Rock-San Marcos metro area’s annual employment growth rate from December 2009 to December 2010 was 2 percent, ranking it 11th.
  • The Dallas-Plano-Irving metro area posted an annual employment growth rate of 1.4 percent in December 2010.The metro area ranked 20th in employment growth rate.
  • The Fort Worth-Arlington metro area’s annual employment growth rate from December 2009 to December 2010 was 1 percent, ranking it 21st in employment growth rate.
  • The Houston-Sugar Land-Baytown metro area is experiencing a slow recovery. The metro area posted an annual employment growth rate of 0.5 percent for the period from December 2009 to December 2010 and ranked last among Texas metro areas in employment growth rate.
  • The San Antonio-New Braunfels metro area’s annual employment growth rate from December 2009 to December 2010 was 0.8, ranking it 23rd in employment growth rate.

View the full report: Click here

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