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Monthly Review of the Texas EconomyMonthly Review of the Texas EconomyAli Anari2019-08-22T05:00:00Ztechnical-report
Texas Economy

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Texas' job creation has accelerated since March 2019 (Figure 1). The state gained 323,300 nonagricultural jobs from July 2018 to July 2019, an annual growth rate of 2.6 percent, higher than the nation's employment growth rate of 1.5 percent (Table 1 and Figure 1). The nongovernment sector added 316,600 jobs, an annual growth rate of 3 percent, also more than the nation's employment growth rate of 1.7 percent in the private sector (Table 1).

​Texas' seasonally adjusted unemployment rate in July 2019 was 3.4 percent, lower than the 3.8 percent rate in July 2018. The nation's rate decreased from 3.9 to 3.7 percent (Table 1).



Texas Employment G​rowth Rates by Industry

​​Table 2 shows Texas industries ranked by employment growth rate from July 2018 to July 2019. All Texas industries except the information industry had more jobs in July 2019 than in July 2018. The construction industry ranked first in job creation followed by other services; leisure and hospitality; transportation, warehousing, and utilities; mining and logging; financial activities; and manufacturing. 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 July 2019. Of the 12,845,900 nonagricultural jobs in July 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 July 2018, education and health services; leisure and hospitality; manufacturing; financial activities; construction; transportation, warehousing, and utilities; other services; and mining and logging have expanded their shares of Texas employment at the expense of the government sector, trade, professional and business 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 Emp​loyment Growth Rate by Industry

Texas’ statewide employment growth rate of 2.6 percent, or more exactly 2.5817 percent, from July 2018 to July 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 July 2018 to July 2019. Leisure and hospitality ranked first in contribution to job growth followed by construction, education and health services, professional and business services, manufacturing, and financial activities. 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 Victoria had more jobs in July 2019 than in July 2018 (Table 5). Dallas-Plano-Irving ranked first in job creation followed by Killeen-Temple-Fort Hood, Houston-The Woodlands-Sugar Land, Odessa, McAllen-Edinburg-Mission, 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 July 2019. Houston-The Woodlands-Sugar Land had the largest share of Texas jobs followed by Dallas-Plano-Irving, Austin-Round Rock, Fort Worth-Arlington, San Antonio-New Braunfels, 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 2.5817 percent in Texas from July 2018 to July 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 July 2018 to July 2019. Dallas-Plano-Irving ranked first followed by Houston-The Woodlands-Sugar Land, Austin-Round Rock, Fort Worth, San Antonio-New Braunfels, McAllen-Edinburg-Mission, Killeen-Temple-Fort Hood, 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 July 2019 was 3.7 percent. Midland had the lowest unemployment rate followed by Amarillo, Odessa, Austin-Round Rock, College Station-Bryan, and Sherman-Denison (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 July 2018 to July 2019. Houston-The Woodlands-Sugar Land and Dallas-Plano-Irving are currently experiencing positive employment growth rates in the government sector and in all industries except information. San Antonio-New Braunfels' financial activities industry is the only industry in the metropolitan area that lost jobs from July 2018 to July 2019. Fort Worth-Arlington's economy is currently driven by financial activities; manufacturing; mining and construction; trade, transportation, and utilities; education and health services; and leisure and hospitality. 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, 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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