Texas Labor Market Update

by CoyDavidson on September 16, 2011

Little Change in State Unemployment Rates

Regional and state unemployment rates were generally little changed in August. Twenty-six states and the District of Columbia reported unemployment rate increases, 12 states recorded rate decreases, and 12 states had no rate change, the U.S. Bureau of Labor Statistics reported today.

Over the year, 25 states experienced statistically significant changes in employment, 24 of which were increases. The largest increase occurred in Texas (+253,200), followed by California (+171,300), New York (+83,400), Ohio (+80,300), and Michigan (+79,800). The only state with an over-the-year statistically significant decrease in employment was Georgia (-29,500).

Office Using Employment Continues Expansion in Texas

Total Nonagricultural Employment in Texas slid by 1,300 jobs in August, marking the first monthly decline in the employment series since September 2010. Six of the 11 major industries showed growth over the month, led by increases in Education and Health Services (+9,600 jobs) and in Professional and Business Services (+4,200 jobs) which bodes well for the Texas office market.

Professional and Business Services expansion of 4,200 jobs in August comes on the heels of a revised gain of 2,500 jobs in July. The industry has undergone seven consecutive months of job growth. On an annual basis, Professional and Business Services added 49,100 jobs for a 3.8 percent annualized growth rate. The industry has experienced over-the-year increases for 17 straight months.

Houston’s unemployment rate dropped to 8.6 percent in August as 3,200 nonfarm jobs were gained, according to data released Friday by the Texas Workforce Commission. Houston added 2,800 jobs in Professional and Business services as well as 2,300  jobs in the Financial Sector in August.

TLMR September 2011

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