Falling Oil Prices Not Stopping Texas Job Growth

Falling Oil Prices Not Stopping Texas Job Growth, Latest Real Estate Center Report Shows

By Bryan Pope, Associate Editor, Real Estate Center at Texas A&M University June 2, 2015/Release No. 21-0615

COLLEGE STATION, Tex. (Real Estate Center) – Texas’ economy continues to create more jobs despite lower oil prices, according to the latest Monthly Review of the Texas Economy published by the Real Estate Center at Texas A&M University. The state’s economy gained 304,200 nonagricultural jobs from April 2014 to April 2015, an annual growth rate of 2.6 percent compared with 2.2 percent for the United States. The state’s nongovernment sector added 282,200 jobs, an annual growth rate of 2.9 percent compared with 2.6 percent for the nation’s private sector. Texas’ seasonally adjusted unemployment rate fell to 4.2 percent in April 2015 from 5.2 percent in April 2014. The nation’s rate decreased from 6.2 to 5.4 percent All Texas industries except mining and logging (which includes oil and gas) and manufacturing had more jobs. The state’s leisure and hospitality industry ranked first in job creation followed by construction and transportation, warehousing and utilities. All Texas metro areas except Texarkana, Wichita Falls and College Station-Bryan had more jobs. Odessa ranked first in job creation, followed by Midland, Dallas-Plano-Irving, Corpus Christi and Beaumont-Port Arthur. The state’s unemployment rate in April was 4 percent. Amarillo had the lowest unemployment rate, followed by Midland, Austin-Round Rock, Lubbock, College Station-Bryan and San Antonio-New Braunfels.

The full report is online at http://www.recenter.tamu.edu/pdf/1862.pdf.

Forbes: Austin is No 2 City for Future Job Growth

Forbes: Austin No. 2 in U.S. for future job growth
(7/28/2014)
AUSTIN – Austin ranked second in Forbes’ list of best U.S. cities for future job growth over the next three years and was one of five Texas cities to make the cut.

With projected annual job growth of 4.1 percent and the unemployment rate at 4.1 percent, Austin is proving to be an attractive option for companies that want to take advantage of the strong local workforce.

The Lone Star capital boasts the third-highest net migration rate in the U.S. during the past five years, Forbes reported. The median household income is $58,932.

Other Texas cities that made it to Forbes’ list of best cities for job growth include: McAllen at No. 3, Dallas at No. 5, Houston at No. 9 and San Antonio at No. 10. Naples, Florida ranked No. 1.

Read more at the Austin Business Journal.

See Forbes for the full report.