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TEXAS ECONOMY GROWING FASTER THAN NATION’S

by admin on April 20, 2011

COLLEGE STATION (Real Estate Center) – The Texas economy continues to outperform the U.S. economy, according to the Real Estate Center’s latest Monthly Review of the Texas Economy.

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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