Real Estate Center Online News
January 3, 2012
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TEXAS' PRIVATE SECTOR JOB GROWTH OUTPACES NATION'S
COLLEGE STATION (Real Estate Center) – Texas gained 227,800 nonfarm jobs from November 2010 to November 2011 according to the Center’s latest Monthly Review of the Texas Economy. That represents an annual growth rate of 2.2 percent compared with 1.2 percent for the United States.
The state’s nongovernment sector grew at an even faster rate, adding 292,700 jobs (3.4 percent) compared with 1.7 percent for the nation’s private sector.
Texas’ seasonally adjusted unemployment rate fell to 8.1 percent in November 2011 from 8.3 percent the year before. The nation’s rate decreased from 9.8 to 8.6 percent.
All Texas industries except the information industry and the state’s government sector had more jobs than the same time a year ago. The state’s mining and logging industry ranked first in job creation, followed by the professional and business services industry and the leisure and hospitality industry.
Abilene, Wichita Falls, Killeen-Temple-Fort Hood and College Station-Bryan were the only metro areas that had fewer jobs in November 2011 than in November 2010. Victoria ranked first in job creation followed by Corpus Christi, McAllen-Edinburg-Mission, Lubbock and Laredo.
The state’s actual unemployment rate in November 2011 was 7.5 percent. Midland had the lowest unemployment rate followed by Amarillo, Odessa, Lubbock and San Angelo.