Monthly Review of the Texas Economy
Texas' pace of job creation exceeded the nation's in February 2017. Texas gained 222,400 nonagricultural jobs from February 2016 to February 2017, an annual growth rate of 1.9 percent, higher than the nation's employment growth rate of 1.6 percent. The nongovernment sector added 189,200 jobs, an annual growth rate of 1.9 percent, higher than the nation's employment growth rate of 1.8 percent in the private sector.
According to the Real Estate Center's latest Monthly Review of the Texas Economy, Texas' seasonally adjusted unemployment rate in February 2017 was 4.9 percent, up from 4.6 percent in February 2016. The nation's rate decreased from 4.9 to 4.7 percent.
All Texas industries except mining and logging, information, and manufacturing had more jobs in February 2017 than in February 2016. The transportation, warehousing, and utilities industry ranked first in job creation followed by leisure and hospitality, education and health services, professional and business services, and financial activities.
All Texas metro areas except Victoria, Longview, San Angelo, Odessa, Beaumont-Port Arthur, Wichita Falls, Midland, and Texarkana, had more jobs in February 2017 than in February 2016. Dallas-Plano-Irving ranked first in job creation followed by El Paso, Killeen-Temple-Fort Hood, College Station-Bryan, Tyler, and Austin-Round Rock.
The state's actual unemployment rate in February 2017 was 5.1 percent. Amarillo had the lowest unemployment rate followed by Austin-Round Rock, Lubbock, College Station-Bryan, Sherman-Denison, San Antonio, and Midland.