Register Real Estate Advisors

By Bryan Pope, Associate Editor, Real Estate Center, June 20, 2012

COLLEGE STATION, Tex. (Real Estate Center) — The Texas economy gained 228,500 nonagricultural jobs from May 2011 to May 2012, an annual growth rate of 2.2 percent compared with 1.4 percent for the United States, according to the Real Estate Center’s latest Monthly Review of the Texas Economy.
The state’s private (nongovernment) sector gained 279,800 jobs, an annual growth rate of 3.2 percent compared with 1.8 percent for the nation’s private sector.
Texas’ seasonally adjusted unemployment rate fell to 6.9 percent in May 2012 from 8.1 percent in May 2011. The nation’s rate decreased from 9 to 8.2 percent. The state’s actual unemployment rate in May 2012 was 6.5 percent. Midland had the lowest unemployment rate followed by Odessa, Amarillo, Lubbock, San Angelo and Abilene.
The state’s mining and logging industry ranked first in job creation, followed by leisure and hospitality and other services.
The information industry remained in the red, losing 600 jobs, while all other Texas industries had more jobs in May 2012 than in May 2011. The government sector also lost jobs.
All Texas metro areas except Victoria, Wichita Falls, College Station-Bryan and Abilene had more jobs in May 2012 than in May 2011. Odessa ranked first in job creation, followed by Laredo, Texarkana, Corpus Christi and Lubbock.

DALLAS (Dallas Morning News) – Unemployment continues its decline in Texas for the sixth month in a row, according to the Texas Workforce Commission (TWC).

Nearly 28,000 jobs were added in February, dropping the state’s unemployment rate to 7.1 percent, down two-tenths of a point from January.

Unemployment was at 8 percent last February.

Ronny Congleton of the TWC said eight of the 11 major industries saw growth in the state in February, with local governments adding the most jobs. The construction industry added 4,500 jobs, which Southern Methodist University economist Bernard Weinstein said is due to an increase in commercial and infrastructure work.

The lowest unemployment numbers in the state can be found in Midland and Odessa. Their rates are 3.8 and 4.5 percent, respectively.

Beaumont-Port Arthur has the highest unemployment rate in Texas, at 10.9 percent.

Happy Monday! This week’s edition of White Board Monday is about how to make a “graceful exit” of your home if you are facing financial trouble. Proactive action at the first signs of trouble will minimize the impact on your financial future.

We have distressed property experts standing by to help you if you or someone you know finds themselves in that situation. Call or email today to get started. 281.288.3500 or info@rrea.com

COLLEGE STATION (Real Estate Center) – The Texas economy is cooling but continues to create jobs. While the U.S. economy lost more than 2.8 million jobs from December 2007 to December 2008, Texas gained 154,600 jobs over the same period.

The state’s seasonally adjusted unemployment rate rose from 4.2 percent in December 2007 to 6 percent in December 2008. By comparison, the U.S. seasonally adjusted unemployment rate rose from 4.9 percent to 7.2 percent during the same period.

Recent decreases in oil prices have begun to adversely affect the Texas oil and natural gas industry’s ability to generate jobs. The industry’s employment increased 3.7 percent from December 2007 to December 2008, a drop from 7.1 percent for the period November 2007 to November 2008. Even so, the industry ranked first among Texas industries in employment growth rate.

The professional and business services industry and the leisure and hospitality industry posted annual employment growth rates of 3.3 percent from December 2007 to December 2008 and ranked second among Texas industries in job creation.

All Texas metros experienced positive employment growth rates from December 2007 to December 2008. McAllen-Edinburg-Mission ranked first in job creation followed by College Station–Bryan, Houston–Sugar Land–Baytown, and Killeen–Temple–Fort Hood.

The state’s actual unemployment rate in December 2008 was 5.7 percent. Midland had the first lowest unemployment rate followed by Amarillo, Lubbock, Odessa and College Station–Bryan.