Texas Labor Market Review – December 2011
Total Nonagricultural Employment in Texas rebounded from a revised dip of 5,500 positions seen in October with the addition of 20,800 jobs in November. Nine of the 11 major industries in Texas expanded over the month, led by a rise of 5,600 in Leisure and Hospitality employment. Construction and Government were the only major industries to shed jobs in November as they dipped by 2,200 jobs and 1,900 jobs respectively. Total Nonagricultural Employment has climbed by 226,000 jobs over the year to reach an estimated level of 10,629,300 positions. The annual growth rate for the series was unchanged in November from a rate of 2.2 percent in October, a rate that exactly doubled the five-year-average annual growth rate of 1.1 percent seen in the series in November.
The state’s unemployment rate dropped from 8.4 percent in October to 8.1 percent in November while the Houston region’s unemployment rate has fallen from 8.1 percent in October to 7.6 over the same 30 day period.
Office Using Employment
Following a slight downturn in October, employment in Professional and Business Services rebounded in November with the addition of 3,400 jobs. Since November 2009, this industry has experienced only three months of job losses. On an annual basis, Professional and Business Services added 55,100 jobs for a 4.3 percent over-the-year growth rate.