Texas Economy Adds 13,700 Jobs in October
AUSTIN, November 18, 2016 – Texas grew by an estimated 13,700 nonfarm jobs in October. The state has added jobs in 18 of the past 19 months. Texas’ seasonally adjusted unemployment rate decreased to 4.7 percent in October, down slightly from 4.8 percent in September, and remained below the national rate of 4.9 percent.
“Texas employers continue to demonstrate the resiliency of the Texas economy with 207,500 jobs added over the past year,” said TWC Chairman Andres Alcantar. “TWC and our local workforce boards remain committed to implementing responsive, market-driven solutions and fostering partnerships with industry, education and other stakeholders to support our state’s world-class employers as they continue to add jobs for Texas workers.”
The Trade, Transportation and Utilities industry recorded the largest private industry employment gain over the month with 8,200 jobs added. Financial Activities rose for a seventh consecutive month with a 4,400 job gain in October, and Manufacturing employment expanded by 2,000 jobs.
“Private-sector employment has been strong over the year with an overall job growth of 162,700, including 13,300 jobs added in October,” said TWC Commissioner Representing Employers Ruth R. Hughs. “I encourage all of our employers to take advantage of the programs we offer through the Skills Development Fund to help create jobs and train workers with the skills needed for today’s job market.”
The Amarillo, Lubbock and Austin-Round Rock Metropolitan Statistical Areas (MSA) recorded the month’s lowest unemployment rate among Texas MSAs with a non-seasonally adjusted rate of 3.2 percent, followed by the College Station-Bryan MSA with a rate of 3.4 for October.
“Texas workers have much to offer and there are resources available to help them find the perfect occupational fit,” said TWC Commissioner Representing Labor Julian Alvarez. “I encourage all job seekers to contact their local Workforce Solutions office for assistance with job training and placement.”