Texas shows signs of exiting the recession and economic recovery
The Real Estate Center at Texas A&M has released its June 2010 monthly review of the Texas economy.
Highlights from the Report:
- After 16 months of job losses, the state’s annual employment growth rate turned positive and posted an annual employment growth rate of 0.2 percent for the period from May 2009 to May 2010. The nation’s rate of job losses has decreased from 4 percent in August 2009 to 0.4 percent in May 2010.
- The state’s seasonally adjusted unemployment rate rose from 7.5 percent in May 2009 to 8.3 percent in May 2010, while the U.S. rate rose from 9.4 percent to 9.7 percent during that period.
- The Houston-Sugar Land-Baytown metro area’s trough occurred in November 2009. The annual job loss rate for the area has decreased from 3.9 percent at that time to 0.9 percent in May 2010.