State Economy
9:37 am
Mon October 22, 2012

Texas Economy Shows Steady Growth - Unemployment Down

The seasonally adjusted unemployment rate in Texas fell to 6.8 percent in September, down more than one point from last year.

Andres Alcantar, chairman of the Texas Workforce Commission, said the Texas economy has been showing steady job growth for the past two years and seven major industries expanded in September.

"The highest growth came from the Professional and Business Services industry, which grew by 13,600 jobs in September. This industry has added 47,200 jobs over the past year," Alcantar said.

The number of jobs in Trade, Transportation, and Utilities grew as well, with employers adding 9,100 jobs in September; that’s a total of 54,700 jobs added in that industry since last year.

TWC credited the state’s low tax rate, a sensible regulatory environment, and an entrepreneurial spirit for the improvements in unemployment. It said Texas had a 3.1 percent annual job growth rate since last year, well above the national rate of 1.7 percent.