The Texas economy expanded for the 13th consecutive month with the addition of 19,600 seasonally adjusted nonfarm jobs in July. Texas’ seasonally adjusted unemployment rate fell to 4.3 percent, down from 4.6 percent in June. Annual employment growth for Texas was 2.4 percent, which was double the annual growth rate as compared to a year ago.
“Texas employers created 293,400 jobs over the past year and the dynamic Texas economy continues to provide competitive advantages to employers across the state,” said TWC Chairman Andres Alcantar. “TWC will continue to focus on the workforce needs of our growing industries and build partnerships that enhance the skills of our world class workforce.”
The Leisure and Hospitality Industry recorded the largest private-industry gain over the month with 7,000 jobs added. Financial Activities expanded by 5,200 jobs and recorded a 3.6 percent annual growth rate-the industry’s highest since August 2013. Professional and Business Services saw an increase of 5,000 jobs in July.
“Texas employers continue to keep our state’s economy strong with private-sector employment expanding over the year with overall job-growth of 266,000 including 20,500 jobs added in July,” said TWC Commissioner Representing Employers Ruth Hughs. “Texas is a state that continues to welcome new employers and work with our homegrown businesses, offering them the tools they need to grow and succeed.”
The Amarillo Metropolitan Statistical Area (MSA) recorded the month’s lowest unemployment rate among Texas MSAs with a non-seasonally adjusted rate of 3.1 percent, followed by the Austin-Round Rock and Midland MSAs with a rate of 3.2 percent. The College Station-Bryan and Sherman-Denison MSAs registered a rate of 3.5 percent for July.
“Several Goods Producing industries are showing strength in Texas, including Manufacturing, which expanded by 2,900 jobs in July,” said TWC Commissioner Representing Labor Julian Alvarez. “I encourage our labor force to tap into TWC’s training resources like our apprenticeship training program that can help prepare them for a good-paying career.”
The Texas Labor Market & Career Information Data for August is scheduled to be released on Friday, September 15, 2017 at 9:00 a.m. (CDT).
Click here to see the July 2017 report from the Texas Workforce Commission.
(News release from the Texas Workforce Commission)
