COLLEGE STATION (Real Estate Center) – Texas’ job creation machine slowed in
May following heavy losses in the state’s federal government sector.
According to the Real Estate Center’s latest Monthly Review of the Texas Economy, the state’s
nonfarm employment growth rate from May 2010 to May 2011 was 1.9 percent, down
from 2.4 percent. Private sector nonfarm employment rose 2.7 percent, down from
2.9 percent from April 2010 to April 2011.
Texas is still outperforming the U.S. economy in job creation. U.S. nonfarm
employment rose 0.7 percent while the nation’s private sector employment
increased 1.7 percent.
Texas’ seasonally adjusted unemployment rate fell to 8 percent in May 2011
from 8.1 in May 2010. Over the same period, the nation’s rate decreased from
9.6 to 9.1 percent.
All Texas industries except the information industry and the government
sector had more jobs in May 2011 than in May 2010. The state’s federal
government sector lost 31,000 jobs.
All metro areas except Sherman-Denison, Brownsville-Harlingen, San Angelo,
Texarkana, Wichita Falls and Abilene had more jobs last month than the year
before. Odessa ranked first in job creation followed by Dallas-Plano-Irving,
College Station-Bryan, Midland and Corpus Christi.
The state’s actual unemployment rate last month was 7.9 percent.
Midland had the lowest unemployment rate followed by Amarillo, Lubbock and
College Station-Bryan.
