Texas unemployment rate drops to historic low — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

Texas unemployment rate drops to historic low

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In May, the Texas seasonally adjusted unemployment rate fell to 4.1% (from 4.2% in April and 5.0% a year ago), its lowest point since 1976. Texas employers have added 239,000 jobs over the past 12 months.
    The lowest unemployment rates were in the Midland, Amarillo and Odessa Metropolitan Statistical Areas (MSAs), where unemployment stood at 2.6%. The College Station-Bryan (3.0%) and Lubbock (3.1%) MSAs were the next best.
    The employment category of “professional & business services,” which added 61,600 jobs in the past year, experienced 10 consecutive months of job growth, gaining 5,400 positions in May. The “trade, transportation & utilities” category similarly recorded gains for the sixth consecutive month, while the mining industry achieved a 10.5% annual job growth rate.
    According to Texas Workforce Commission (TWC) Chairwoman Diane Rath, the cause for the dropping unemployment rate is “sustained job growth and a strong Texas economy.”
    “Texas employers are prospering, which means more opportunities for working Texans,” said Rath. TWC Commissioner Ron Lehman, who represents employers, stated, “Texas employers are making enormous strides across a wide spectrum of industries. Our state’s annual job growth rate at 2.4% now outpaces the U.S. rate at 1.4%.” 

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