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Monthly Review of the Texas EconomyMonthly Review of the Texas EconomyAli Anari2020-05-26T05:00:00Ztechnical-report
Texas Economy
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The Texas economy is suffering from COVID-19 pandemic and low oil prices. The state's economy lost 1,110,600 nonagricultural jobs from April 2019 to April 2020, an annual decline of 8.7 percent, smaller than the nation's employment decline of 12.9 percent (Table 1 and Figure 1). The nongovernment sector lost 1,102,800 jobs, an annual decline of 10.2 percent, also lower than the nation's employment decline of 14.6 percent in the private sector (Table 1).

Texas' seasonally adjusted unemployment rate in April 2020 was 12.8 percent, higher than the 3.5 percent rate in April 2019. The nation's rate increased from 3.6 to 14.7 percent (Table 1).
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Texas Employment Percentage Change by Industry

​​Table 2 shows Texas industries ranked by employment percentage change from April 2019 to April 2020. All Texas industries except financial activities industry had fewer jobs in April 2020 than in April 2019. Annual job loss rates varied from 0.40 percent in the government sector to 39.29 percent in the state's leisure and hospitality industry. Figures 2 to 13 (shown in full report)​ show trends in employment percentage change by industry.


Texas Job Shares by ​Industry and t​​he Government Sector

Table 3 shows Texas industries and the state's government sector ranked by their shares of Texas jobs in April 2020. Of the 11,628,000 nonagricultural jobs, the highest percentage of jobs was in the government sector followed by trade, professional and business services, education and health services, manufacturing, and leisure and hospitality. Since April 2019, the government sector; trade; professional and business services; education and health services; manufacturing; financial activities; construction; transportation, warehousing, and utilities, and information have expanded their shares of Texas employment at the expense of leisure and hospitality, other services, and mining and logging. Figures 14 to 25 (shown in full report)​​ ​show trends in shares of total Texas jobs by industry.


​​Contributions of Texas Industries to Texas Emp​loyment Percentage Change

The statewide employment percentage change from April 2019 to April 2020 is the weighted average of employment growth or decline rates of all Texas industries for the period. Weights are shares of jobs by industry. The positive or negative contribution of each industry to the statewide employment percentage change is equal to the employment growth or decline rate in 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 percentage change from April 2019 to April 2020. Financial activities was the state's only industry that had a positive contribution. The rest of the state's industries had negative contributions. Figures 26 to 37 (shown in full report)​​ show trends in contributions of Texas industries to Texas job growth or decline rates.


Employmen​​t Percentage Changes by Texas Metropolitan Areas

All Texas metros had fewer jobs in April 2020 than in April 2019 (Table 5). Dallas-Plano-Irving had the smallest employment decline followed by College Station-Bryan, Abilene, Sherman-Denison, Killeen-Temple-Fort Hood, McAllen, Amarillo, and Houston. Figures 38 to 63 (shown in full report)​ show trends in annual employment growth or decline 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 April 2020. Houston-The Woodlands-Sugar Land 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 t​​o Texas Metropolitan Areas to Texas Employment Percentage Change

The statewide employment percentage change from April 2019 to April 2020 is the weighted average of employment growth or decline rates of all Texas metros for the period. Weights are shares of jobs by area. The positive or negative contribution of each metro to the statewide employment percentage change is equal to the employment growth or decline rate in that area multiplied by its share of Texas jobs. Table 7 shows Texas metros ranked by their contributions to Texas' employment decline from April 2019 to April 2020. Houston-The Woodlands-Sugar Land accounted for the largest percentage of the state's employment decline rate followed by Dallas-Plano-Irving, Fort Worth-Arlington, Austin-Round Rock, San Antonio-New Braunfels, El Paso, Corpus Christi, and McAllen-Edinburg-Mission. 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 April 2020 was 13 percent. Amarillo had the lowest unemployment rate followed by Abilene, College Station-Bryan, Lubbock, and Midland (Table 8).

 

Employment Percentage Changes by Indust​ry in Largest Texas Metropolitan Areas

Table 9 shows annual growth or decline rates of employment by industry in the six largest Texas metropolitan areas from April 2019 to April 2020. The state’s leisure and hospitality industry is bearing the brunt of the COVID-19 pandemic in the major metro areas followed by other services and education and health services.  

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Digital and Print1862https://www.recenter.tamu.edu/articles/technical-report/monthly-review-of-the-texas-economy https://assets.recenter.tamu.edu/Documents/Articles/1862.pdf

 

 

Monthly Review of the Texas EconomyMonthly Review of the Texas EconomyTexas Economy
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