Monthly Review of the Texas Economy

 The Texas economy continues to outpace the U.S. economy in job creation. The state gained 306,900 nonagricultural jobs from December 2016 to December 2017, an annual growth rate of 2.5 percent, higher than the nation’s employment growth rate of 1.4 percent.

According to the Real Estate Center’s latest Monthly Review of the Texas Economy, the nongovernment sector added 269,500 jobs, an annual growth rate of 2.6 percent, also higher than the nation’s employment growth rate of 1.6 percent in the private sector.

Texas’ seasonally adjusted unemployment rate in December 2017 was 3.9 percent, lower than the 4.8 percent rate in December 2016. The nation’s rate decreased from 4.7 to 4.1 percent.

All Texas industries except the information industry had more jobs. The mining and logging industry ranked first in job creation followed by other services industry, manufacturing, construction, financial activities, leisure and hospitality, and professional and business services.

All Texas metro areas except Texarkana, Brownsville-Harlingen, Beaumont-Port Arthur, and Waco had more jobs. San Antonio-New Braunfels ranked first in job creation followed by Midland, College Station-Bryan, Austin-Round Rock, Corpus Christi, and Fort Worth-Arlington.

The state’s actual unemployment rate in December 2017 was 3.7 percent. Amarillo and Midland had the lowest unemployment rate followed by Austin-Round Rock, College Station-Bryan, and Lubbock.