Economy Still Better in Texas
Posted by Admin SATXProperty on Saturday, July 16th, 2011 at 7:47pm.
ECONOMY STILL BETTER IN TEXAS
COLLEGE STATION (Real Estate Center) – More than two million U.S. jobs were lost from November 2007 to November 2008, representing 1.5 percent of its labor force. The Texas economy fared much better during the period, gaining 222,900 jobs and increasing its labor force by 2.1 percent.
The state’s seasonally adjusted unemployment rate rose from 4.2 percent in November 2007 to 5.7 percent in November 2008. The U.S. seasonally adjusted unemployment rate rose from 4.7 percent to 6.7 percent over the same period.
Despite recent oil price decreases, the state’s mining industry continues to gain jobs. It ranked first in job creation, followed by professional and business services, leisure and hospitality, education and health services, and construction.
All Texas metros experienced positive employment growth rates from November 2007 to November 2008. McAllen-Edinburg-Mission ranked first in job creation followed by Laredo, College Station–Bryan, Longview and El Paso.
The state’s actual unemployment rate in November 2008 was 5.6 percent. Petroplexes Midland and Odessa ranked first and second in lowest unemployment rate followed by Amarillo, Lubbock, Abilene and College Station–Bryan.
The complete economic report is available on the Real Estate Center's website.
Please share your thoughts! Leave a blog comment below. You are invited to join in on a conversation with on-topic and thoughtful/meaningful comments or possibly as a guest blog contributor. The San Antonio Real Estate and South Texas Blog(SATXBlog) is my personal blog to share all kinds of thoughts and information. All comments and posts are reviewed, approved and may be edited or moderated. No Spam commenters. No web links within comments. Blatant self-promotion and advertising will not be tolerated.
P.S. If you are wanting to search online for San Antonio real estate, look no further. If you know anyone wanting to buy or sell San Antonio real estate let them know about me and my website.
Be the first to comment on this blog entry!