Texas Labor Market Review – February 2012
Texas’ seasonally adjusted unemployment rate fell to 7.3 percent in January, down from 7.4 percent in December, and down from 8.1 percent in January 2011. The Texas unemployment rate is one full percentage point below the national unemployment rate of 8.3 percent. Texas has remained below the national unemployment rate for 61 months. January’s is the lowest unemployment rate in Texas since April 2009.
Texas added 67,200 nonfarm jobs in January for a total of 258,200 jobs added over the year. Private employers added 73,800 jobs over the month, totaling 332,600 private sector jobs added over the year. Texas has experienced positive annual job growth in nonfarm jobs for the last 21 consecutive months.
Office Using Employment
“We’re seeing substantial economic growth here in Texas,” said Texas Workforce Commission (TWC) Chairman Tom Pauken. “I am encouraged that Mining and Logging, which includes oil and gas employers, has added more than 38,000 jobs over the past year. This industry has grown at a faster rate than any other in Texas, at a 17.6 percent annual growth rate.”
Nine of the 11 major industries in Texas added jobs in January, led by Professional and Business Services, which added 18,100 jobs over the month. Over the past year, this industry has added 69,500 jobs for an annual growth rate of 5.3 percent.