- Unemployment rate in Texas dropped 5.5 % in March
- The unemployment rate in Texas remains below national rate of 6.7%
- Last years jobs in private sector: 278,400 (growth rate: 3%)
Article from The Monitor:
AUSTIN — On Friday, the Texas Workforce Commission revealed that the unemployment rate in Texas dropped to 5.5 percent in March — down two-tenths of a percentage point from February’s unemployment rate of 5.7 percent (seasonally adjusted). The unemployment rate in Texas remains well below the national rate of 6.7 percent.
Our state has continued its pattern of strong job growth and the Lone Star State continues to be ranked among the best places to live, work and do business. In Texas, we acknowledge that it is our employers, both small and large, that are the economic engine of this great state. Private employers added 278,400 total jobs over the last year for an annual growth rate of 3.0 percent.
This past year, the McAllen-Edinburg-Mission metropolitan statistical area added 3,000 jobs.
During the past year, all 11 of the major industries experienced annual job growth, with five industries posting rates that exceeded 3 percent.
Employment in Texas continued to grow across a wide range of industries, with seven of the 11 major industries adding jobs in March. Professional and business services added 5,600 jobs in March — more than any other major industry. The information industry also posted strong monthly growth with 2,300 jobs added in March. This was the best start to a year for the information industry since 2000, with 2,400 jobs added in the first quarter of 2014.The industry grew by 3.2 percent over the year and added 6,400 jobs.
As these numbers demonstrate, our Texas economy continues to lead the nation. Now more than ever, a skilled workforce is essential to maintaining our economic competitiveness and our workforce system must be market-driven, effectively meeting the needs of both workers and employers.
I recently had the opportunity to participate in a highly successful Industry Day event at one of our Texas community colleges. Students, educators, employers and community partners all came together to discuss the future of our workforce in Texas. Teachers and counselors heard directly from area employers about their workforce needs and the high-wage, high-demand opportunities that exist for our young Texans. We learned that labor market information is a crucial tool for counselors as they help our students make informed decisions about their education and career goals.
Events like this help to strengthen the conversations between industry and education. These relationships, as well as the strong commitment that many of our Texas employers have made to develop our future workforce, are crucial to our continued success. I am confident that reinforcing these partnerships will serve our state well as we transition to the jobs and industries of the future.
DIRECT LINK/SOURCE: http://www.themonitor.com/opinion/commentary-texas-jobless-rates-fell-in-march-jobs-added-in/article_fde4f782-c74b-11e3-bacc-0017a43b2370.html