Texas created more jobs in August 2012 than any other state in the nation, according to the Bureau of Labor Statistic’s newest state employment report.
For August 2012, total nonfarm employment in Texas increased by 38,000 positions. The states with the next highest job growth were Florida, +23,200, and Missouri +17,900. Year-over-year, the number of net new jobs added in Texas was 259,500, second only to California’s 298,700 net new jobs.
Other good news includes:
· Industries with the most growth: Trade, Transportation, and Utilities (+55,100); Professional and Business Services (+48.900); and Leisure and Hospitality (+47,800).
· Industry that shrank the most: Government (-20,300).
· Texas’ private sector “has grown by 279,800 jobs over the last year, a 3.2 percent increase, while national private sector annual growth has been just 1.8 percent.“
· Texas’ has experienced positive total nonfarm employment increases for the past 25 consecutive months compared to 23 consecutive months for the U.S.
· Texas’ unemployment rate for August, 7.1 percent, was a full percentage point below the national average, 8.1 percent. This makes 68 consecutive months that Texas’ unemployment rate has been at or below the national average.
· Year-over-year, Texas’ unemployment rate has decreased a full percentage point from 8.1 percent in August 2011 to 7.1 percent in August 2012.
Bottom line: Texas’ relatively strong economy continues to create more jobs than just about anyone else around.