Published: 11-24-08
Texas Unemployment Rate Rises to 5.6 Percent
AUSTIN —Texas’ seasonally adjusted nonagricultural employment grew by 23000 jobs in October. Texas employers now have added 230400 jobs in the past 12 months for an annual job growth rate of 2.2 percent. The United States recorded 1.1 million job losses during the same period.
Texas’ seasonally adjusted unemployment rate rose to 5.6 percent in October up from 5.1 percent in September and 4.3 percent in October 2007. The U.S. seasonally adjusted unemployment rate climbed to 6.5 percent in October up from 6.1 percent in September and 4.8 percent a year ago.
“The combination of Hurricane Ike and adverse national economic trends has resulted in a one-half percent increase in the unemployment rate in Texas for October” said Texas Workforce Commission (TWC) Chairman Tom Pauken. “While Texas still has nearly a one percent lower unemployment rate than the rate of the nation I would expect unemployment rates in Texas to continue to track the national trend upward in the months ahead.”
The increase in the number of unemployed (not seasonally adjusted) in the Houston and Beaumont Metropolitan Statistical Areas (MSA) which were impacted by Hurricane Ike represents nearly half of the increase in the unemployed reported statewide.
The Midland MSA experienced the lowest unemployment rate in the state at 3.1 percent (not seasonally adjusted). The Odessa MSA was second at 3.7 percent followed by the Amarillo and Lubbock MSAs at 3.9 percent.
Professional and Business Services gained 12200 positions in October for an industry gain of 62000 jobs in the past year. Education and Health Services grew by 3700 jobs this month adding 34700 jobs in the past 12 months.
“Texas is in a better position than most other states with continued positive job growth” said TWC Commissioner Representing the Public Andres Alcantar. “However we must remain diligent throughout our state strategically connecting workers to job opportunities.”
Trade Transportation and Utilities employment increased by 2700 jobs in October with 34300 positions added over the year. Natural Resources and Mining gained 1600 jobs this month with 16500 jobs added since October 2007.
“The Texas unemployment rate rose again this month but remains far below the national unemployment rate” said TWC Commissioner Representing Labor Ronny Congleton. “Through TWC and the 28 local workforce development boards job search assistance and training are available to Texas workers.”
