Texas’ economy continued to outperform the U.S. economy

Created Wednesday, 20 April 2011 13:29

Monthly Review of Texas Economy

RECON
Real Estate Center Online News Texas A&M University
COLLEGE STATION (Real Estate Center)
April 19, 2011

by Ali Anari and Mark G. Dotzour

Texas’ economy continued to outperform the U.S. economy, gaining 237,900 jobs from March 2010 to March 2011, an annual growth rate of 2.3 percent. Over the same period, U.S. nonfarm employment rose 1 percent. The state’s private sector also exceeded U.S. figures, posting an annual employment growth rate of 2.7 percent compared with 1.6 percent for the U.S. private sector from March 2010 to March 2011.

From March 2010 to March 2011, Texas gained 237,900 jobs, an annual growth rate of 2.3 percent. Over the same period, U.S. nonfarm employment rose 1 percent.

The state’s private sector also exceeded U.S. figures, posting an annual employment growth rate of 2.7 percent compared with 1.6 percent for the U.S. private sector.

The state’s seasonally adjusted unemployment rate fell from 8.2 percent to 8.1 percent. The nation’s rate decreased from 9.7 to 8.8 percent.

All Texas industries except financial activities and information industries had more jobs in March 2011 than in March 2010. All Texas metro areas, except Abilene, Brownsville-Harlingen and Laredo, had more jobs. Petroplex Odessa ranked first in job creation followed by Midland, Longview and Dallas-Plano-Irving.

The state’s actual unemployment rate in March 2011 was 8.1 percent. Midland had the lowest unemployment rate followed by Amarillo, College Station-Bryan, Lubbock and San Angelo.

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