Texas’ Unemployment Falls to New Low 3.8% – While Texarkana Ticks Up .2%
Great news for the State of Texas as the unemployment rate falls to a new record low 3.8 percent during the month of September 2018. Texarkana is still lagging behind though at 5.2 percent which is up from 5.0 during the month of August, and up almost a full point over September of 2017.
According to the Press Release from the Texas Workforce Commission, Texas’ seasonally adjusted unemployment rate fell to 3.8 percent, down from 3.9 percent in August 2018 and setting a new record for the lowest unemployment rate recorded in four decades. The Texas economy added 15,600 seasonally adjusted nonfarm jobs in September. Annual employment growth for Texas was 3.3 percent in September, marking 27 consecutive months of annual growth.
“Texas employers continue to contribute to our state’s success with private-sector employers adding 16,700 jobs in September and accounting for an impressive 402,500 jobs over the year,” said Texas Workforce Commission (TWC) Chair Ruth Ruggero Hughs. “Texas’ continued addition of jobs over a twenty-seven month period demonstrates the competitive advantage and market opportunities available to our Texas employers and world-class workforce.”
September’s annual growth in the state’s Goods Producing industries was strong at 6.9 percent. Over the month, Construction added 3,000 jobs, followed by the Manufacturing industry with 2,800 positions, while Mining and Logging employment expanded by 2,600 positions.
In Texas’ Service Providing sector, Financial Activities added 5,800 positions over the month, and led all industries in job growth for September. Also within this sector, Professional and Business Services added 2,500 jobs, followed by Trade, Transportation, and Utilities which added 2,100.
“Texas’ labor force is made up of hard-working individuals who are eager to obtain the skills that our employers need,” said TWC Commissioner Representing Labor Julian Alvarez. “I encourage all job seekers to contact their local Workforce Solutions office for assistance with job training and placement.”
The Midland Metropolitan Statistical Area (MSA) recorded the month’s lowest unemployment rate among Texas MSAs with a non-seasonally adjusted rate of 2.2 percent, followed by the Amarillo MSA and the Odessa MSA which had the second lowest with a rate of 2.7 percent. The Austin-Round Rock and College Station- Bryan MSAs recorded the third lowest rate of 2.9 percent for September.
“Texas continues to flourish thanks to the outstanding efforts and talents of individuals and employers in communities around the state,” said TWC Commissioner Representing the Public Robert D. Thomas. “TWC will continue to promote innovative workforce and economic development strategies in collaboration with our education partners, local leaders, and industry to preserve our competitive edge in the best place to work in the world.”
If you would like to see the numbers for each city in Texas and other information, click here for the full release including charts.