Monthly Review of the Texas Economy

Fueled by higher oil prices, Texas’ pace of job creation accelerated in September 2018. The state gained 406,400 nonagricultural jobs from September 2017 to September 2018, an annual growth rate of 3.3 percent, higher than the nation’s employment growth rate of 1.7 percent (Table 1 and Figure 1). The nongovernment sector added 402,500 jobs, an annual growth rate of 3.9 percent, also more than the nation’s employment growth rate of 2 percent in the private sector.

Texas’ seasonally adjusted unemployment rate in September 2018 was 3.8 percent, lower than the 4 percent rate in September 2017. The nation’s rate decreased from 4.2 to 3.7 percent.

All Texas industries except the information industry had more jobs in September 2018 than in September 2017. The mining and logging industry ranked first in job creation followed by construction; professional and business services; leisure and hospitality; and transportation, warehousing, and utilities. Figures 2 to 13 (shown in full report) show trends in employment growth rates by industry.

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