Texas Unemployment Rate Dips to 5.5 percent
AUSTIN, April 21, 2014 - The seasonally adjusted unemployment rate in Texas fell to 5.5 percent in March, down two-tenths of a percentage point from February’s rate of 5.7 percent. The unemployment rate in Texas remains well below the national rate of 6.7 percent.
Employers in Texas added 9,100 jobs in March for a total of 310,000 jobs added over the year. The annual growth rate for total nonagricultural employment has remained at or above 2.6 percent since January 2012.
“The Texas economy continues to move in the right direction with Texas employers adding 310,000 jobs over the year,” said Texas Workforce Commission (TWC) Chairman Andres Alcantar. “All 11 of the major industries experienced annual job growth, with five industries exceeding growth rates of 3.0 percent.”
Employment in Texas continued to grow across a wide range of industries, with seven of the 11 major industries adding jobs in March. Professional and Business Services added 5,600 jobs in March, more than any other major industry.
“Many industries in Texas continue to post impressive annual growth, including Trade, Transportation, and Utilities, which added 73,400 jobs over the last year,” said TWC Commissioner Representing Labor Ronny Congleton. “Texas job seekers looking to tap into careers in this and other thriving industries should take advantage of the training opportunities provided through Workforce Solutions and our education partners.”
The Information industry also posted strong monthly growth with 2,300 jobs added in March. This was the best start to a year for the Information industry since 2000, with 2,400 jobs added in the first quarter of 2014. The industry grew by 3.2 percent over the year and added 6,400 jobs.
“In Texas, we acknowledge that it is our employers, both small and large, that are the economic engine of this great state,” said TWC Commissioner Representing Employers Hope Andrade. “Private employers added 278,400 total jobs over the last year for an annual growth rate of 3.0 percent.”
The Midland Metropolitan Statistical Area (MSA) had the lowest March unemployment rate in the state at 2.7 percent. The Odessa MSA had the second lowest at 3.3 percent and the Amarillo MSA was third at 3.8 percent (not seasonally adjusted).
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