COLLEGE STATION (Real Estate Center) – The Texas economy gained 230,000 jobs from February 2010 to February 2011, an annual growth rate of 2.3 percent. Over the same period, U.S. nonfarm employment rose 1 percent.
The state’s private sector posted an annual employment growth rate of 2.5 percent compared with 1.5 percent for the U.S. private sector from February 2010 to February 2011.
The state’s seasonally adjusted unemployment rate was 8.2 percent in February 2011, unchanged from February 2010, while the nation’s rate decreased from 9.7 to 8.9 percent over the same period.
All Texas industries except financial activities and information industries had more jobs in February 2011 than in February 2010.
All Texas metro areas had more jobs in February 2011 than in February 2010. Petroplexes Odessa and Midland ranked first and second, respectively, in job creation followed by Longview and Dallas-Plano-Irving.
The state’s actual unemployment rate in February 2011 was 8.2 percent. Midland had the lowest unemployment rate followed by Amarillo, Lubbock, College Station-Bryan and San Angelo.
For more information, read the Real Estate Center’s latest monthly economic review.