Texas Unemployment Rate Drops to 7.8 Percent
Texas’ seasonally adjusted unemployment rate fell to 7.8 percent in December, down from 8.1 percent in November and down from 8.3 percent in December 2010 the Texas Workforce Commission reports. The Texas Civilian Labor Force grew by more than 17,000 individuals in December, and now stands at more than 12.3 million Texans.
Texas added 20,200 nonfarm jobs in December for a total of 204,500 jobs added over the year. Private employers in Texas added 10,100 jobs in December for a total of 260,000 private sector jobs added over the year. Texas has experienced positive annual job growth for the last 20 consecutive months with annual growth rates at or above 2.0 percent for the last seven months.
Office Using Employment
Employment in Financial Activities expanded by 2,100 jobs in December, totaling 18,000 jobs added over the year for a 2.9 percent annual job growth rate—the highest for that industry since March 2007. Professional and Business Services employment expanded by 1,600 jobs in December and added 53,100 jobs over the year. Having added jobs in nine of the past 12 months, the annual job growth rate for Professional and Business Services in December was 4.1 percent.
Mining and Logging which includes the energy industry continued its growth trend for the fourth straight month with an expansion of 2,000 jobs in December. The industry added 37,400 jobs since January 2011, the largest year-to-date job growth in the history of the series. Mining and Logging continued to show strong annual growth with the addition of 40,700 jobs over the year. The yearly growth rate of 18.7 percent marked the 16th consecutive month of annual job growth in excess of 10.0 percent.