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Monthly Review of the Texas EconomyMonthly Review of the Texas EconomyAli Anari2019-11-21T06:00:00Ztechnical-report
Texas Economy
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The Texas economy gained 297,100 nonagricultural jobs from October 2018 to October 2019, an annual growth rate of 2.4 percent, higher than the nation's employment growth rate of 1.4 percent (Table 1 and Figure 1). The nongovernment sector added 284,600 jobs, an annual growth rate of 2.7 percent, also more than the nation's employment growth rate of 1.5 percent in the private sector (Table 1).

Texas' seasonally adjusted unemployment rate in October 2019 was 3.4 percent, lower than the 3.7 percent rate in October 2018. The nation's rate decreased from 3.8 to 3.6 percent (Table 1).
 


Texas Employment G​rowth Rates by Industry

​​Table 2 shows Texas industries ranked by employment growth rate from October 2018 to October 2019. All Texas industries except the information industry and mining and logging industry had more jobs in October 2019 than in October 2018. The construction industry ranked first in job creation followed by other services; financial activities; education and health services; leisure and hospitality; and transportation, warehousing, and utilities. Figures 2 to 13 (shown in full report) show trends in employment growth rates 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 October 2019. Of the 12,897,400 nonagricultural jobs in October 2019, 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 October 2018, professional and business services; education and health services; leisure and hospitality; financial activities; construction; transportation, warehousing, and utilities; and other services have expanded their shares of Texas employment at the expense of the government sector, trade, mining and logging, 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 Emp​loyment Growth Rate by Industry

Texas’ statewide employment growth rate of 2.4 percent, or more exactly 2.3579 percent, from October 2018 to October 2019 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 October 2018 to October 2019. Education and health services ranked first in contribution to job growth followed by construction, professional and business services, leisure and hospitality, financial activities, and manufacturing. Figures 26 to 37 (shown in full report) show trends in contributions of Texas industries to Texas job growth rates. 


Employmen​​t Growth Rates by Texas Metropolitan Areas

All Texas metro areas except Wichita Falls, Longview, and Victoria had more jobs in October 2019 than in October 2018 (Table 5). San Antonio ranked first in job creation followed by Dallas-Plano-Irving, McAllen-Edinburg-Mission, Killeen-Temple-Fort Hood, Houston-The Woodlands-Sugar Land, and Austin-Round Rock. 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 October 2019. 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' Employment Growth Rate by Metropolitan Area

The statewide employment growth rate of 2.3579 percent in Texas from October 2018 to October 2019 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 October 2018 to October 2019. Dallas-Plano-Irving ranked first followed by Houston-The Woodlands-Sugar Land, San Antonio-New Braunfels, Austin-Round Rock, Fort Worth-Arlington, McAllen-Edinburg-Mission, and El Paso. 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 October 2019 was 3.3 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 Indust​ry in Largest Texas Metropolitan Areas

Table 9 shows annual growth rates of employment by industry in the six largest Texas metropolitan areas from October 2018 to October 2019. Houston-The Woodlands-Sugar Land is currently experiencing positive employment growth rates in the government sector and in all industries except information. Dallas-Plano-Irving and San Antonio-New Braunfels are currently experiencing employment growth in the areas’ government sectors and in all industries. Fort Worth-Arlington’s economy is currently driven by financial activities, mining and construction, other services, leisure and hospitality, and education and health services. Austin is currently experiencing positive employment growth rates in the government sector and in all industries except education and health services. El Paso’s economy is currently experiencing positive employment growth rates in the government sector and in all industries except manufacturing, trade, transportation and utilities, information, and professional and business services.

 

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Previous reports available: 

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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