Unemployment rate steady at 5.1 percent
AUSTIN August 15, 2014 – The fast-growing Texas economy showed steady growth in July, adding 46,600 seasonally-adjusted nonfarm jobs. In the last year, the Lone Star State’s economy has expanded by 396,200 jobs. The unemployment rate in Texas held steady at 5.1 percent in July, remaining well below the national unemployment rate of 6.2 percent.
“Texas employers continue to propel the Texas economy’s expansion by adding 396,200 jobs over the last year, a 3.5 percent annual growth rate,” said Texas Workforce Commission (TWC) Chairman Andres Alcantar. “The Texas economic engine is strong, with every major industry posting positive annual growth in July.”
All of the major industries in Texas expanded over the month. Professional and Business Services led the way in growth, adding 10,600 jobs in July. Over the year, this industry has grown by 72,300 jobs for an annual growth rate of 5.0 percent, which is the second highest annual growth rate among all major industries in Texas.
“The Professional and Business Services industry is thriving, with opportunities that range from legal advice and representation to security guards to landscaping,” said TWC Commissioner Representing Labor Ronny Congleton. “Industries across the board are hiring, and that is good news for job seekers in Texas. I encourage Texans looking for new opportunities to explore industries expanding in their area by accessing services at their local Workforce Solutions office.”
Eight of 11 major industries reported annual growth rates higher than 3.0 percent, including Professional and Business Services; Trade, Transportation, and Utilities; Mining and Logging; and Construction.
“Private employers added 42,400 jobs in July, which shows their vital role in the Lone Star State’s economy,” said TWC Commissioner Representing Employers Hope Andrade. “Mining and Logging posted an annual growth rate of 7.8 percent in July, which marked the 51st consecutive month of positive annual growth and underscored the industry’s role in the state’s overall economic success.”
The Midland Metropolitan Statistical Area (MSA) had the lowest July unemployment rate in the state at 2.9 percent. The Odessa MSA had the second lowest at 3.6 percent and the Amarillo MSA was third at 4.1 percent (not seasonally adjusted).
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