TWC
Texas Insider Report: AUSTIN Texas Growth in the Texas economy continued in February with 17700 seasonally adjusted nonfarm positions added over the month. Texas seasonally adjusted unemployment rate held at 3.8 percent. February marked the 106th consecutive month of annual growth for total nonfarm employment.
Adding 15100 jobs in February Texas private-sector employers continue to drive our economy and our states robust and competitive growth" said TWC Chair and Commissioner Representing Employers Ruth R Hughs. Texas is an exceptional state for industry and business leaders to attract and retain highly-skilled workers. TWC is committed to engaging with all employers across Texas to strengthen our economy and to create and expand opportunities for all."
Private sector employers added 256000 jobs over the year. Private annual employment growth was at 2.5 percent in February and has held above 2.0 percent since October 2017.
Leisure and Hospitality added 5500 jobs over the month the most among major industries in Texas. This major industry has seen 103 consecutive months of over-the-year growth since August 2010.
With each passing month Texas continues a growth trajectory resulting in high-paying jobs in essential industries like manufacturing professional services and financial activities" said TWC Commissioner Representing Labor Julian Alvarez. To ensure positive growth we must continue to invest in necessary training and education for subsequent generations. Through events like Texas Career and Technical Education (CTE) signing day students are equipped with the training required for in demand occupations and that our workforce has the skills needed to remain competitive."
Professional and Business Services grew by 4100 jobs in February driven mostly by growth in Professional Scientific and Technical Services and Administrative Support and Waste Management and Remediation Services. The industrys growth rate has held at or above 2.0 percent since May 2017. After being revised up for a 3600-position increase in January Financial Activities added another 3800 jobs in February driven by increases in Finance and Insurance.
The Midland Metropolitan Statistical Area (MSA) recorded Februarys lowest unemployment rate among Texas MSAs with a non-seasonally adjusted rate of 2.2 percent followed by the Odessa MSA which recorded at 2.7 for the second lowest rate. The Amarillo MSA recorded the third lowest rate of 2.9 percent.
The Texas economy endures as a symbol of excellence. Our states constant job growth high demand industries and low unemployment rate make Texas one of the most attractive states in the nation" said TWC Commissioner Representing the Public Robert D. Thomas. As we continue to grow as a state we must invest in guaranteeing all Texans access to opportunities regardless of their backgrounds."
Audio downloads with comments from Chair Hughs on the latest labor market data are available on the TWC webpage for recent press releases. Employment estimates released by TWC are produced in cooperation with the U.S. Department of Labors Bureau of Labor Statistics. All estimates are subject to revision. To access this and more employment data visit TexasLMI.com.
The Texas Labor Market & Career Information Data for February is scheduled to be released on Friday April 19 2019 at 9:00 a.m. (CDT)
