Texas Insider Report: AUSTIN Texas The Texas economy added 71500 seasonally adjusted nonfarm jobs in October. Annual employment growth for Texas was 2.6 percent in October marking 90 consecutive months of annual growth. Texas seasonally adjusted unemployment rate fell to 3.9 percent setting a record for the lowest unemployment rate recorded in four decades.
By adding an impressive 71500 jobs over the past month and 316100 jobs over the year Texas employers have once again demonstrated their unmatched innovation and ability to achieve success in our countrys premier place to do business" said TWC Chairman Andres Alcantar. This economy provides valuable opportunities for the highly skilled Texas workforce to also achieve success."
Leisure and Hospitality employment rebounded by adding 34700 jobs in October after experiencing its largest monthly decline in September due to hurricane-affected business closures. Over the year this industry has gained 41000 jobs. Trade Transportation and Utilities employment grew by 10300 jobs and Professional and Business Services expanded by 6300 jobs.
Private-sector employers added 64100 jobs in October and have accounted for the addition of 279300 positions in Texas over the past year as the state has continued to expand its employment" said TWC Commissioner Representing Employers Ruth R. Hughs. I invite Texas employers to participate in the We Hire Vets recognition program to recognize them for their commitment to hiring our nations heroes."
The Amarillo and Midland Metropolitan Statistical Areas (MSA) recorded the months lowest unemployment rate among Texas MSAs with a non-seasonally adjusted rate of 2.4 percent followed by the College Station-Bryan MSA with a rate of 2.5 percent. The Austin-Round Rock and Lubbock MSAs registered a rate of 2.6 percent for October.
Several Goods Producing industries are showing strength in Texas including Construction which expanded by 4500 jobs in October" said TWC Commissioner Representing Labor Julian Alvarez. In recognition of Texas Apprenticeship Week this week I encourage our labor force to tap into TWCs apprenticeship training program that can help prepare them for a well-paying career."
Audio downloads with comments from Commissioner Hughs on the latest labor market data are available on the TWC website
press release page. 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
tracer2.com.
The Texas Labor Market & Career Information Data for November is scheduled to be released on Friday December 22 2017 at 9:00 a.m. (CDT).