Texas’ new October jobs report has some good news for jobseekers: employers are hiring and the state’s unemployment rate continues to drop.
For the month of October, Texas added 36,600 net new jobs, with about two-thirds of those coming from the private sector. Year-over-year, Texas’ economy has added 277,400 net new jobs. The state’s unemployment rate, 6.6 percent, is down from 6.8 percent in September and is well below the national average, 7.9 percent.
Other highlights from the report include:
- The Construction industry is booming. According to Texas Workforce Commissioner Tom Pauken, “…Construction employment surged in October with the addition of 13,600 jobs, the largest monthly gain in recorded history in Texas. The Construction industry’s 8.4 percent annual growth rate is further evidence that Texas continues to be a great place to build your business.”
- Industries that added the most jobs for October: Education and Health Services (+13,700); Construction (+13,600); and Government (+12,100).
- The industry that lost the most jobs for October: Professional and Business Services (-11,900).
- Industries that added the most jobs from October 2011 to October 2012: Leisure and Hospitality (+51,800); Trade, Transportation, and Utilities (+47,800); and Construction (+46,900).
- The industry that lost the most jobs from October 2011 to October 2012: Information (-3,700)
- Midland’s unemployment rate is 3.3 percent, the lowest of any Metropolitan Statistical Area (MSA). Odessa MSA and Amarillo MSA had the next lowest unemployment rates, 3.9 percent and 4.3 percent respectively.
America’s economic engine continues its impressive churn.