Annual growth rate positive for more than three straight years
Texas Insider Report: AUSTIN Texas Texas seasonally adjusted total nonfarm employment expanded by 19500 jobs in May for a total of 324700 jobs added since May 2012. The states annual growth rate in May stood at 3.0 percent and has been positive every month beginning with May 2010. Texas seasonally adjusted unemployment rate rose slightly in May to 6.5 percent from 6.4 percent in April as the states civilian labor force population continued to grow. Texas unemployment rate remained below the nations May unemployment rate of 7.6 percent.
The addition of 324700 jobs over the past year with private sector employers adding 299800 during this period is good news for Texas said Texas Workforce Commission (TWC) Chairman Andres Alcantar. We invite Texas employers and job seekers to visit www.texasworkforce.org<
http://www.texasworkforce.org> to learn more about the resources and opportunities available to them across the state.
Over the month nine of the 11 major industries in Texas saw positive growth led by Education and Health Services which added 5500 jobs in May 2013. That industry has added 44100 jobs over the last year for a 3.0 percent annual growth rate.
Im encouraged that Texas job seekers continue to find work said TWC Commissioner Representing Labor Ronny Congleton. Despite the slight increase in the unemployment rate in May Texas civilian labor force the second largest in the nation continues to grow and thats a positive sign.
Construction remained the fastest growing major industry in Texas based on a 6.7 percent annual growth rate. This industry has added 39200 jobs over the year including 500 over the last month. The Professional and Business Services industry expanded by 4600 jobs over the month and added 59500 jobs over the year for a 4.2 percent annual growth rate.
The consistency of Texas economic growth over the year is due to the entrepreneurial spirit of our employers and our skilled workforce said TWC Commissioner Representing Employers Hope Andrade.
