Published: 06-20-08
Texas Unemployment Rate Rises to 4.5 Percent
AUSTIN — Texas’ seasonally adjusted nonagricultural employment grew by 8700 jobs in May. Texas employers now have added 238700 jobs in the past 12 months for an annual job growth rate of 2.3 percent compared with a 0.2 percent annual job growth rate nationally.
After a record low Texas unemployment rate of 4.1 percent in April the statewide seasonally adjusted unemployment rate rose to 4.5 percent in May up from 4.4 percent a year ago. The U.S. seasonally adjusted unemployment rate was 5.5 percent in May up from 5.0 percent in April 2008.
“Job growth in Texas remained strong outpacing the national trend” said Texas Workforce Commission (TWC) Chairman Tom Pauken. “Despite the fact that the number of those seeking work went up this month the Texas unemployment rate remained at historically low levels staying below the 5.0 percent mark for nearly two years.”
The Midland Metropolitan Statistical Area (MSA) experienced the lowest unemployment rate in the state at 2.7 percent (not seasonally adjusted). The Amarillo and Odessa MSAs were second at
3.1 percent respectively.
The Education and Health Services industry saw the biggest job gains with 5400 positions added in May for an over-the-year increase of 38500 jobs. Professional and Business Services followed with 1700 jobs added for an industry gain of 64500 positions in the past year.
“Across nearly every industry Texas employers added jobs at a stronger pace than the nation as a whole” said TWC Commissioner Representing Employers Ron Lehman. “For example our Natural Resources and Mining industry reached an annual job growth rate of 6.8 percent followed by Professional and Business Services at 5.0 percent and Leisure and Hospitality at 4.0 percent.”
Leisure and Hospitality grew by 1300 jobs in May adding 38900 positions in the past 12 months followed by Construction which grew by 1100 jobs this month for an annual gain of 23300 jobs.
“The state continues to gain jobs providing opportunities for those seeking work” said TWC Commissioner Representing Labor Ronny Congleton. “In May Texas recorded the largest number ever in the civilian labor force at 11.7 million people.”
