The Texas economy continues to outpace the U.S. economy in job creation. The state gained 285,200 nonagricultural jobs from February 2017 to February 2018, an annual growth rate of 2.3 percent, higher than the nation's employment growth rate of 1.6 percent (Table 1 and Figure 1). The nongovernment sector added 283,500 jobs, an annual growth rate of 2.8 percent, also higher than the nation's employment growth rate of 1.8 percent in the private sector (Table 1).
Texas' seasonally adjusted unemployment rate in February 2018 was 4 percent, lower than the 4.7 percent rate in February 2017. The nation's rate decreased from 4.7 to 4.1 percent (Table 1).
Texas Employment Growth Rates by Industry
Table 2 shows Texas industries ranked by employment growth rate from February 2017 to February 2018. All Texas industries except the information industry had more jobs in February 2018 than in February 2017. The mining and logging industry ranked first in job creation followed by construction; transportation, warehousing, and utilities; professional and business services; leisure and hospitality; and financial activities. Figures 2 to 13 (shown in full report) show trends in employment growth rates by industry.
Texas Job Shares by Industry and the Government Sector
Table 3 shows Texas industries and the state's government sector ranked by their shares of Texas jobs in February 2018. Of the 12,422,400 nonagricultural jobs in February 2018, the highest percentage of employment by industry was in the government sector, followed by trade, professional and business services, education and health services, leisure and hospitality, and manufacturing. Since February 2017, professional and business services; leisure and hospitality; financial activities; construction, transportation, and warehousing; utilities; and mining and logging have expanded their shares of Texas employment at the expense of the government sector, trade, education and health services, manufacturing, other services, and the information industry. Figures 14 to 25 (shown in full report) show trends in shares of total Texas jobs by industry.
Contributions to Texas Employment Growth Rate by Industry
Texas' statewide employment growth rate of 2.3 percent, or more exactly 2.3498 percent, from February 2017 to February 2018 is the weighted average of employment growth rates for all Texas industries for the period. Weights are shares of jobs by industry. The contribution of each industry to the statewide employment growth rate is equal to the employment growth rate of that industry multiplied by its share of Texas jobs. Table 4 shows Texas industries and the state's government sector ranked by their contributions to Texas employment growth rates from February 2017 to February 2018. The state's professional and business services ranked first in contribution to job growth followed by leisure and hospitality, construction, mining and logging, trade, and education and health services. Figures 26 to 37 (shown in full report) show trends in contributions of Texas industries to Texas job growth rates.
Employment Growth Rates by Texas Metropolitan Areas
All Texas metro areas except Brownsville-Harlingen, Victoria, Beaumont-Port Arthur, and Corpus Christi had more jobs in February 2018 than in February 2017 (Table 5). Midland ranked first in job creation followed by Odessa, College Station-Bryan, Austin-Round Rock, Dallas-Plano-Irving, Fort Worth-Arlington, and San Antonio-New Braunfels (Table 5). Figures 38 to 63 (shown in full report) show trends in annual employment growth rates for the state's metropolitan areas.
Texas Job Shares by Metropolitan Area
Table 6 shows Texas metropolitan areas ranked by their shares of total Texas jobs in February 2018. The Houston-The Woodlands-Sugar Land metro area had the largest share of Texas jobs followed by Dallas-Plano-Irving, Austin-Round Rock, San Antonio-New Braunfels, Fort Worth-Arlington, El Paso, and McAllen-Edinburg-Mission. Figures 64 to 89 (shown in full report) show trends in metropolitan shares of total Texas jobs.
Contributions to Texas' Employment Growth Rate by Metropolitan Area
The statewide employment growth rate of 2.3498 percent in Texas from February 2017 to February 2018 is the weighted average of employment growth rates of all Texas metros for the period. Weights are shares of jobs by area. The contribution of each metro to the statewide employment growth rate is equal to the employment growth rate in that area multiplied by its share of Texas jobs. Table 7 shows Texas metros ranked by their contributions to Texas employment growth rates from February 2017 to February 2018. Dallas-Plano-Irving ranked first followed by Houston-The Woodlands-Sugar Land, Austin-Round Rock, San Antonio-New Braunfels, Fort Worth-Arlington, Midland, and College Station-Bryan. Figures 90 to 115 (shown in full report) show trends in contributions of Texas metros to total Texas job growth rates.
Unemployment Rate by Metropolitan Area
The state's actual unemployment rate in February 2018 was 4.1 percent. Midland had the lowest unemployment rate followed by Amarillo, Austin-Round Rock, College Station-Bryan, Lubbock, and Odessa (Table 8).
Employment Growth Rates by Industry in Largest Texas Metropolitan Areas
Table 9 shows annual growth rates of employment by industry in the six largest Texas metropolitan areas from February 2017 to February 2018. The current growth rate of Houston-The Woodlands-Sugar Land's economy is due to job growth rates in professional and business services; mining and construction; financial activities; manufacturing; trade, transportation, and utilities; and leisure and hospitality. Dallas-Plano-Irving is currently experiencing positive employment growth rates in all industries as well as the government sector. San Antonio's economy is currently driven by mining and construction; leisure and hospitality; professional and business services; other services; trade, transportation, and utilities; and manufacturing. Fort Worth-Arlington's economy is currently experiencing job growth rates in all industries except information, mining and construction, and other services. Government is the only sector in Austin experiencing job losses. The El Paso economy is currently driven by mining and construction, education and health services, professional and business services, and financial activities.
