Texas adds 43,800 jobs over last two months

Texas adds 43,800 jobs over last two months
MGN Online
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POSTED: Friday, November 22, 2013 - 12:52pm

UPDATED: Wednesday, November 27, 2013 - 10:29am

Rate unchanged in El Paso

The seasonally adjusted unemployment rate in Texas fell to 6.2 percent in October, down from 6.3 percent in September. The state’s unemployment rate remained well below the national October unemployment rate of 7.3 percent.

In El Paso, the seasonally adjusted unemployment rate from the Dallas Federal Reserve was unchanged at 8.9%; that's compared to 9% at this time last year. There were 1,000 jobs gained, but still 27,000 people without a job.

In October, Texas had an estimated total nonfarm employment of 11,232,700 jobs, an increase of 267,400 jobs over the year. Total nonfarm employment in Texas rose by an estimated 7,400 positions in October following an increase of 36,400 jobs in September, a total of 43,800 jobs added over the last two months.

“The private sector in Texas recorded a strong annual growth rate of 2.9 percent in October, adding nearly 265,000 jobs over the year,” said Texas Workforce Commission (TWC) Chairman Andres Alcantar. “We encourage job seekers, in particular our returning veterans, to visit their local Workforce Solutions office for assistance in finding work.”

Seven out of 11 industries that added jobs in October included Leisure and Hospitality, which expanded by 7,600 positions; Professional and Business Services, which added 5,000 jobs; and Trade, Transportation and Utilities, which grew by 3,700 positions.

“It’s good to see our unemployment rate declining for three consecutive months, from 6.5 percent in July to 6.2 percent in October,” said TWC Commissioner Representing Labor Ronny Congleton. “Positive economic growth means continued employment opportunities for the job seekers and workers of Texas.”

Industries such as Mining and Logging, and Professional and Business Services, continued to show annual growth in Texas. Mining and Logging added 15,000 jobs over the year, while Professional and Business Services added 73,200. Both of these industries have grown by more than 5.0 percent over the year.

“The Texas economy continues to move forward, with every major industry in the state showing positive growth over the last year,” said TWC Commissioner Representing Employers Hope Andrade.

The Midland Metropolitan Statistical Area (MSA) had the lowest October unemployment rate in the state at 3.1 percent. The Odessa MSA came in second at 3.6 percent and the Amarillo MSA third at 4.4 percent (not seasonally adjusted).

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Dallas has seen a huge influx of new people, new jobs and new investment over the last several years, helping to create one of the most diverse economies in the state. Texas’ low-tax, limited government approach has done wonders for the state economy and few places know that better than the Dallas-Fort Worth area.
Than Nguyen
http://www.insourcegroup.com

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