POSTED: Friday, June 20, 2014 - 9:28am
UPDATED: Friday, June 20, 2014 - 9:28am
AUSTIN, TX (TEXAS WORKFORCE COMMISSION) — The Texas economy continued its trend of job growth in May, expanding by 56,400 seasonally adjusted nonfarm jobs.
A total of 383,100 jobs were added in the past 12 months, making it the largest over-the-year job increase in Texas in nearly 17 years. Additionally, the state’s annual growth rate climbed to 3.4 percent in May, which is the highest it has been since November 2012. Texas consistently ranks among the top states for annual job growth. Texas’ seasonally adjusted unemployment rate dropped to 5.1 percent in May, down from 5.2 percent in April.
“Texas employers kept our economy moving with 383,100 jobs added over the year, the largest such increase since September 1997,” said Texas Workforce Commission (TWC) Chairman Andres Alcantar. “We continue to work with our workforce and education partners to ensure that Texas workers have the in-demand skills required to bolster this impressive job creation.”
Texas employers from all 11 major industries in Texas expanded their payrolls in May. Of those, Education and Health Services expanded the most, adding 12,400 jobs. Mining and Logging posted the highest annual growth rate among the major industries at 7.4 percent.
“It is good news for job seekers when Texas industries grow across the board,” said TWC Commissioner Representing Labor Ronny Congleton. “At TWC we have many resources available to job seekers looking to work in high-growth industries. I encourage them to visit their local Workforce Solutions office or seek these opportunities at WorkInTexas.com.”
Employment in Trade, Transportation, and Utilities expanded by 11,800 jobs over the month, for a total of 86,300 jobs added in the last 12 months.
“Private employers continued to spur the Texas economy forward, adding 48,400 jobs in May and 350,000 jobs over the year for an annual growth rate of 3.7 percent,” said TWC Commissioner Representing Employers Hope Andrade.
The Midland Metropolitan Statistical Area (MSA) had the lowest May unemployment rate in the state at 2.6 percent. The Odessa MSA had the second lowest at 3.2 percent and the Amarillo MSA was third at 3.6 percent (not seasonally adjusted).