COLLEGE STATION, Tex. (Real Estate Center) – Texas’ economy is slowly showing signs of recovery from the impact of the 2015 oil price collapse.
According to the Real Estate Center’s latestMonthly Review of the Texas Economy, the state gained 187,500 nonagricultural jobs from April 2015 to April 2016, an annual growth rate of 1.6 percent, lower than the nation’s growth rate of 1.9 percent.
The nongovernment sector added 154,000 jobs, an annual growth rate of 1.6 percent compared with 2.2 percent for the nation’s private sector.
April was the fourth month the state’s economy posted an annual employment growth rate exceeding the annual growth rate in December 2015, indicating that the Texas economy has passed the worst of the downturn.
Texas’ seasonally adjusted unemployment rate in April was 4.4, the same rate as in April 2015. The nation’s rate decreased from 5.4 to 5 percent.
All Texas industries except mining and logging, manufacturing, and information industry had more jobs in April 2016 than in April 2015. Leisure and hospitality ranked first in job creation followed by education and health services, trade, other services, construction, and financial activities.
All Texas metro areas except Longview, Midland, and Odessa had more jobs last month than a year ago. Dallas-Plano-Irving ranked first in job creation followed by Austin-Round Rock, College Station-Bryan, Lubbock, and Killeen-Temple-Fort Hood.
The state’s actual unemployment rate was 4.2 percent. Amarillo had the lowest unemployment rate, followed by Austin-Round Rock, Lubbock, College Station-Bryan, Dallas-Plano-Irving, and San Antonio-New Braunfels.
Funded primarily by Texas real estate licensee fees, the Real Estate Center at Texas A&M University was created by the state legislature in 1971 to meet the needs of many audiences, including the real estate industry, instructors, researchers and the general public. The Center is part of Mays Business School at Texas A&M University.
Author:Mike Pourciau Phone: 281-466-9110 Dated: July 15th 2016 Views: 66 About Mike: Mike has over 14 years in experience in real estate and 25 years in management, sales, and business ...
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