Texas’ unemployment rate hits historic low 3.7 percent
AUSTIN ? Texas’ seasonally adjusted unemployment rate fell to 3.7 percent in October, down from 3.8 percent in September 2018, reaching its lowest level since the state unemployment data series began in January 1976. The Texas economy added 32,300 seasonally adjusted nonfarm jobs in October. Annual employment growth for Texas was 3.1 percent in October, marking 102 consecutive months of annual growth.
“The Texas economy continues to remain strong by adding 32,300 jobs in the month of October. These numbers highlight the strategic job creation efforts of our Texas employers, and provides our world-class workforce with career options in a variety of growing industries,” said Chair Ruth R. Hughs. “Texas is a state that always welcomes new employers and also supports our homegrown businesses, offering them the tools they need to succeed and build on our continued success as a global economic leader.”
October’s annual growth in the state’s Goods Producing industries was strong at 6.6 percent. Over the month, Mining and Logging added 4,300 jobs, followed by the Construction industry with 1,500 positions.
In Texas’ Service Providing sector, Trade, Transportation, and Utilities added 8,900 positions over the month, and led all industries in job growth for October. Also within this sector, Leisure and Hospitality added 8,700 jobs, followed by Education and Health Services which added 5,100.
“Texas’ labor force is made up of hard-working individuals who are eager to obtain the skills that our employers need,” said TWC Commissioner Representing Labor Julian Alvarez. “The jobs are out there, and I encourage all job seekers to contact their local Workforce Solutions office for assistance with job training and placement.”
The Midland Metropolitan Statistical Area (MSA) recorded the month’s lowest unemployment rate among Texas MSAs with a non-seasonally adjusted rate of 2.1 percent, followed by the Amarillo MSA and the Odessa MSA which had the second lowest with a rate of 2.5 percent. The Austin-Round Rock, College Station- Bryan and Lubbock MSAs recorded the third lowest rate of 2.7 percent for October.
“Texas’ dynamic marketplace has set the standard as the Best State for Business over 14 consecutive years according to CEOs,” said TWC Commissioner Representing the Public Robert D. Thomas. “That track record of accomplishment recognizes the perseverance, resilience and hard work of our workforce, employers and collaborative partners across the state.”
Audio downloads with comments from Commissioner Thomas on the latest labor market data are available on the TWC webpage for recent press releases. Employment estimates released by TWC are produced in cooperation with the U.S. Department of Labor’s Bureau of Labor Statistics. All estimates are subject to revision. To access this and more employment data, visit tracer2.com.
The Texas Labor Market & Career Information Data for November is scheduled to be released on Friday, December 21, 2018 at 9:00 a.m. (CDT).