Texas Job Trends Report - October 2017

[Jim Cummings]

From Texas Real Estate Center (RECON) October 27, 2017

Employment growth outside of Houston offsets Harvey negatives

COLLEGE STATION (Real Estate Center) – The Texas economy continues to create more jobs as the impacts of Hurricane Harvey on the Houston’s employment growth rate are offset by higher employment growth rates in other larger metro areas.

According to the Real Estate Center's latest Monthly Review of the Texas Economy, Texas gained 256,100 nonagricultural jobs from September 2016 to September 2017, an annual growth rate of 2.1 percent, higher than the nation’s employment growth rate of 1.2 percent. The nongovernment sector added 230,300 jobs, an annual growth rate of 2.3 percent, higher than the nation’s rate of 1.4 percent in the private sector.

Texas’ seasonally adjusted unemployment rate last month was 4 percent, lower than 4.7 percent in September 2016. The nation’s rate decreased from 4.9 to 4.2 percent.

All Texas industries except the information industry had more jobs in September 2017 than in September 2016. The mining and logging industry ranked first in job creation followed by manufacturing; other services; financial activities; transportation, warehousing, and utilities; and professional and business services.

All Texas metro areas except Victoria, San Angelo, Waco, Texarkana, and Beaumont-Port Arthur had more jobs. Corpus Christi ranked first in job creation followed by College Station-Bryan, El Paso, Midland, Dallas-Plano-Irving, Fort Worth-Arlington, Austin-Round Rock, and Odessa.

The state’s actual unemployment rate was 4 percent. Amarillo had the lowest unemployment rate followed by Midland, Austin-Round Rock, College Station-Bryan, and Lubbock.