spot_img

Texas leads U.S. in job growth, again

Date:

spot_img

(The Center Square) – Every month, after U.S. Department of Labor employment data is released, Texas’ jobs report is better than any other state’s and its job growth rate is higher than the national rate. March employment data was no different.

“The Texas labor market maintained its momentum in March to reach a 36th consecutive month of positive annual growth and once again set new record-high levels for jobs, Texans employed, and the civilian labor force,” the Texas Workforce Commission reported.

In March, Texas again surpassed all previous records it broke for having the greatest number of total jobs, the greatest number of Texans working, and the largest labor force in state history.

Texas’ seasonally adjusted total nonfarm job count increased in March again by more than 19,100 jobs, propelling Texas to reach a new record high for total jobs of 14,115,700.

Texas reached a new high for total Texans working, including self-employed, at 14,590,800, reflecting job growth in 45 of the last 47 months.

Texas also led the U.S. with the largest absolute over-the-year increase in total nonfarm employment, which grew by 270,700 jobs from March 2023 to March 2024, TWC notes.

This represents a 2% annual growth rate, outpacing the national growth rate by 0.1%, it says.

Texas’ seasonally adjusted civilian labor force grew over the month by 20,800 to set a new record high of the largest labor force in state history of 15,189,900.

“The most dynamic economy in the nation is built by Texans,” Gov. Greg Abbott said. “I am proud that Texas again leads all states in annual job creation. This continued momentum is a testament to the strength of our young, skilled, diverse, and growing workforce, our welcoming business climate, and the strategic investments we continue to make in education, workforce development, and critical infrastructure.”

The Texas economy also grew faster than the U.S. economy as a whole with real gross domestic product growing at an annual rate of 5% in the fourth quarter of 2023, well ahead of the national GDP growth for the sixth quarter in a row.

The Houston-The Woodlands-Sugar Land Metropolitan Statistical Area added the greatest number of nonfarm jobs in the state of 67,800 over the year. The Houston area also reported the second largest not seasonally adjusted over-the-year increase in total nonfarm employment among MSAs nationwide.

Texas’ Leisure and Hospitality sector added the largest over-the-month number of jobs of 7,300, also reaching a new series high. Mining and Logging added 3,700; Other Services added 2,400, also marking an over-the-year growth rate of 4.6%, 2.8% higher than the industry’s national growth rate, the TWC said.

“Continued job growth has strengthened Texas’ reputation as the best state to work and do business,” TWC Commissioner Representing Labor Alberto Treviño III said. “As more people arrive in Texas in pursuit of these emerging career opportunities, TWC is making sure they have access to guidance and training for long-term success.”

“Texas continues to attract employers on a global scale because of our unique business climate, skilled workforce, and strong community partnerships,” TWC Commissioner Representing Employers Joe Esparza, said. The TWC is also helping workers upskill and reskill to meet Texas employers’ growing workforce needs, he said.

According to TWF data, Texas’ not seasonally adjusted employment rate of 4.1% was higher than the national rate of 3.9%.

McAllen-Edinburg-Mission MSA had the highest not seasonally adjusted employment rate of 6%, followed by Beaumont-Port Arthur’s 5.7% and Brownsville-Harlingen’s 5.4%.

Midland reported the lowest not seasonally adjusted rate of 2.6%, followed by Amarillo and College Station-Bryan each reporting 3.1%.

Read the Black Chronicle Black History Edition for Free! Click Below

Read the Black Chronicle Black History Edition for Free! Click Below

spot_img
spot_img

Subscribe

Share post:

Popular

More like this
Related

Medical group backs decriminalization of opioid for addiction treatment

(The Center Square) – A leading medical group has...

Pritzker says bump stock ruling won’t affect Illinois

(The Center Square) – In the wake of the...

What should taxpayers expect from their jails?

(The Center Square) — While jails take up a...