Monday, July 16, 2012

Texas Tops Rest of Nation in Job Growth


COLLEGE STATION (Real Estate Center) – The Texas economy gained 228,500 nonagricultural jobs from May 2011 to May 2012, an annual growth rate of 2.2 percent compared with 1.4 percent for the United States, according to the Real Estate Center’s latest Monthly Review of the Texas Economy.
The state’s private (nongovernment) sector gained 279,800 jobs, an annual growth rate of 3.2 percent compared with 1.8 percent for the nation’s private sector.
Texas’ seasonally adjusted unemployment rate fell to 6.9 percent in May 2012 from 8.1 percent in May 2011. The nation’s rate decreased from 9 to 8.2 percent. The state’s actual unemployment rate in May 2012 was 6.5 percent. Midland had the lowest unemployment rate followed by Odessa, Amarillo, Lubbock, San Angelo and Abilene.