(Credit: Texas Workforce Commission)
Growth in the Texas economy continued in February, with 17,700 seasonally adjusted nonfarm positions added over the month. Texas’ seasonally adjusted unemployment rate held at 3.8 percent. February marked the 106th consecutive month of annual growth for total nonfarm employment.
“Adding 15,100 jobs in February, Texas’ private-sector employers continue to drive our economy and our state’s robust and competitive growth,” said TWC Chair and Commissioner Representing Employers Ruth R Hughs. “Texas is an exceptional state for industry and business leaders to attract and retain highly-skilled workers. TWC is committed to engaging with all employers across Texas to strengthen our economy and to create and expand opportunities for all.”
Private sector employers added 256,000 jobs over the year. Private annual employment growth was at 2.5 percent in February and has held above 2.0 percent since October 2017.
Leisure and Hospitality added 5,500 jobs over the month, the most among major industries in Texas. This major industry has seen 103 consecutive months of over-the-year growth since August 2010.
“With each passing month, Texas continues a growth trajectory resulting in high-paying jobs in essential industries like manufacturing, professional services, and financial activities,” said TWC Commissioner Representing Labor Julian Alvarez. “To ensure positive growth, we must continue to invest in necessary training and education for subsequent generations. Through events like Texas Career and Technical Education (CTE) signing day, students are equipped with the training required for in demand occupations and that our workforce has the skills needed to remain competitive.”
Professional and Business Services grew by 4,100 jobs in February, driven mostly by growth in Professional, Scientific, and Technical Services, and Administrative, Support, and Waste Management and Remediation Services. The industry’s growth rate has held at or above 2.0 percent since May 2017. After being revised up for a 3,600-position increase in January, Financial Activities added another 3,800 jobs in February, driven by increases in Finance and Insurance.
Drilling down into the Austin metro specifically, unemployment is now at a flat 3 percent, down from 3.3 percent in January.
The Midland Metropolitan Statistical Area (MSA) recorded February’s lowest unemployment rate among Texas MSAs with a non-seasonally adjusted rate of 2.2 percent, followed by the Odessa MSA which recorded at 2.7 for the second lowest rate. The Amarillo MSA recorded the third lowest rate of 2.9 percent.
“The Texas economy endures as a symbol of excellence. Our state’s constant job growth, high demand industries, and low unemployment rate make Texas one of the most attractive states in the nation,” said TWC Commissioner Representing the Public Robert D. Thomas. “As we continue to grow as a state, we must invest in guaranteeing all Texans access to opportunities regardless of their backgrounds.”
