Texas Adds Fifth Month of Record Low Unemployment

 

AUSTIN November 21, 2019 - The Texas seasonally adjusted unemployment rate held steady at 3.4 percent in October 2019. This marks the fifth consecutive month of record low unemployment in the state starting in June 2019. It is the lowest unemployment rate since series tracking began in 1976.

“This is yet another historic moment for Texas. For the past five months, our unemployment rate has remained at a record low,” said TWC Chairman Bryan Daniel. “It’s no surprise that our innovative businesses, hardworking labor force and strong state leadership continue to yield economic results to highlight Texas as one of the best places to work in the country.”

Texas employers added 297,100 jobs over the year. Total nonfarm annual employment growth was at 2.4 percent in October and has held at or above 2.0 percent since February 2018.

“October Labor market data is great news for Texas workers,” said TWC Commissioner Representing Labor Julian Alvarez. “Their skills continue to be in high demand and more and more individuals are finding employment. These numbers are a wonderful reminder of why I am proud to be a Texan.”

Leading job growth in October was the Trade, Transportation, and Utilities industry adding 9,700 jobs, followed by Professional and Business Services adding 6,300 jobs and Education and Health Services which added 5,300 jobs.

 “Thanks to the hard work of Texas businesses our state’s vast economy continues to thrive with employers adding over 290,000 jobs in the last year,” said TWC Commissioner Representing Employers Aaron Demerson “By continuing to support local businesses, we can ensure our industries continue to flourish and set new records.”

The Midland Metropolitan Statistical Area (MSA) recorded October’s lowest unemployment rate among Texas MSAs with a non-seasonally adjusted rate of 2.1 percent, followed by the Amarillo MSA at 2.4. The Austin-Round Rock, College Station-Bryan and Lubbock MSAs each recorded the third lowest rate at 2.6 percent.

 
 
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