AT TEXAS A&M UNIVERSITY Monthly Review of the Texas Economy By Ali Anari, Research Economist Mark G. Dotzour, Chief Economist TECHNICAL REPORT 1 8 6 APRIL 11 TR
Monthly Review of the Texas Economy April 11 By Ali Anari and Mark G. Dotzour Texas economy continued to outperform the U.S. economy, gaining 37,9 jobs from March 1 to March 11, an annual growth rate of.3 percent (Table 1 and Figure 1). Over the same period, U.S. nonfarm employment rose 1 percent (Table 1 and Figure 1). The state s private sector also exceeded U.S. figures, posting an annual employment growth rate of.7 percent compared with 1.6 percent for the U.S. private sector from March 1 to March 11 (Table 1). Texas seasonally adjusted unemployment rate fell to 8.1 percent in March 11 from 8. in March 1. Over the same period, the nation s rate decreased from 9.7 to 8.8 percent (Table 1). Table shows Texas industries ranked by employment growth rate from March 1 to March 11. Table 3 shows the relative importance of the state s industries based on number of employees. All Texas industries except financial activities and information industries had more jobs in March 11 than in March 1 (Table ). The state s mining and logging industry ranked first in job creation and posted an annual employment growth rate of 15. percent for the period from March 1 to March 11 (Table and Figure ). The average number of active rotary rigs increased from 69 in March 1 to 798.3 in March 11 according to Hughes Tool Co. The state s construction industry added 3, jobs from March 1 to March 11, a 5. percent rate increase, and ranked second in job creation (Table and Figure 3). Job gains consisted of,5 in construction of buildings, 11, in heavy and civil engineering construction, and 1,7 in specialty trade contractors. The state s professional and business services industry gained 6,7 jobs from March 1 to March 11, an annual growth rate of 3.7 percent (Table and Figure ). Job gains consisted of 5,5 jobs in the state s administrative and support services industry and 1,6 jobs in professional, scientific and technical services industry. The state s management of companies and enterprises industry lost jobs over the same period. The state s education and health services industry added 6,6 jobs from March 1 to March 11, an annual growth rate of 3. percent (Table and Figure 5). All job gains were in the health services industry. The state s leisure and hospitality industry (arts, entertainment, recreation, accommodations and food services) gained, jobs from March 1 to March 11, an annual growth rate of. percent (Table and Figure 6).
The other services industry (repair and maintenance, personal and laundry services, religious, civic and professional organizations) gained 8,1 jobs over the year, a.3 percent increase (Table and Figure 7). The state s transportation, warehousing and utilities industry gained 8,8 jobs over the year, a.1 percent growth rate (Table and Figure 8). The state s trade industry gained 8,9 jobs from March 1 to March 11, a 1.8 percent increase (Table and Figure 9). Job gains consisted of 1, in the wholesale trade and 16,9 jobs in the retail trade industry. Trade is the state s largest industry after government, accounting for 15.6 percent of nonfarm employment (Table 3). The state s manufacturing industry gained 11, jobs from March 1 to March 11, an annual growth rate of 1. percent (Table and Figure 1). Durable goods manufacturing gained 18, jobs while nondurable goods manufacturing lost 6,8 jobs. Major job gains in the state s durable goods manufacturing industry were in fabricated metal product manufacturing (8, jobs), machinery manufacturing (7,3), computer and electronic product manufacturing (,1), transportation equipment manufacturing (3,), and primary metal manufacturing (,). Major job losses in the state s durable goods manufacturing industry were in nonmetallic mineral product manufacturing (1,7), furniture and related product manufacturing (1,1), electric equipment, appliance, and component manufacturing (5), and wood product manufacturing (8). Major job losses in the state s nondurable manufacturing industry were in printing and related support manufacturing (1,), petroleum and coal products manufacturing (1,), plastic and rubber manufacturing (9), paper manufacturing (3) and chemical manufacturing industry (1,). The state s government sector added 1,6 jobs from March 1 to March 11, an annual growth rate of.8 percent (Table and Figure 11). Government job gains consisted of, in state government and 1,7 in the state s local government. The state s federal government lost,5 jobs over the same period. The state s financial activities (finance, insurance, real estate, rental and leasing services) lost 3,7 jobs from March 1 to March 11, an annual decline rate of.6 percent (Table and Figure 1). The state s real estate, rental and leasing industry lost 3,9 jobs while the state s finance and insurance industry gained jobs. The state s information industry (internet service providers, web search portals, publishing industries, broadcasting and telecommunications) lost 8, jobs from March 1 to March 11, a.3 percent rate decrease (Table and Figure 13). Texas Metropolitan Statistical Areas All Texas metro areas, except Abilene, Brownsville-Harlingen and Laredo, had more jobs in March 11 than in March 1 (Table ). Petroplex Odessa ranked first in job creation followed by petroplex Midland, Longview, and Dallas-Plano-Irving (Table ).
The Austin-Round Rock-San Marcos metro area s annual employment growth rate from March 1 to March 11 was 1.8 percent, ranking it 1 th (Table and Figure 1). The Dallas-Plano-Irving metro area posted an annual employment growth rate of.7 percent in March 11 (Table and Figure 15). The metro area ranked fourth in employment growth rate (Table ). The Fort Worth-Arlington metro area s annual employment growth rate from March 1 to March 11 was 1.9 percent, ranking it 1 th (Table and Figure 16). The Houston-Sugar Land-Baytown metro area posted an annual employment growth rate of.1 percent for the period from March 1 to March 11 and ranked 8 th among Texas metro areas in employment growth rate (Table and Figure 17). The San Antonio-New Braunfels metro area s annual employment growth rate from March 1 to March 11 was 1.3, ranking it 18 th (Table and Figure 18). The state s actual unemployment rate in March 11 was 8.1 percent. Midland had the lowest unemployment rate followed by Amarillo, College Station-Bryan, Lubbock, and San Angelo (Table 5). Table 1 Texas and U.S. Labor Markets Change Nonfarm Employment Mar. 11 Mar. 1 Absolute Texas 1,5,6 1,66,7 37,9.3 United States 19,97, 18,58, 1,33, 1. Private Employment Mar. 11 Mar. 1 Absolute Texas 8,68,8 8,385,5 3,3.7 United States 17,36, 15,671, 1,689, 1.6 Actual Seasonally Adjusted Unemployment Rate Mar. 11 Mar. 1 Mar. 11 Mar. 1 Texas 8.1 8.3 8.1 8. United States 9. 1. 8.8 9.7 Sources: Texas Workforce Commission and Bureau of Labor Statistics 3
Table Texas Industries Ranked by Employment Growth Rate from March 1 to March 11 Change Rank Industry Mar. 11 Mar. 1 Absolute 1 Mining and Logging 8,1 197,6 3,5 15. Construction 591, 56,6 3, 5. 3 Professional & Business Services 1,99,7 1,53, 6,7 3.7 Education & Health Services 1,,5 1,373,9 6,6 3. 5 Leisure & Hospitality 1,18,5 99,5,. 6 Other Services 366, 358,3 8,1.3 7 Transportation, Warehousing, Utilities 1,9 13,1 8,8.1 8 Trade 1,639,7 1,61,8 8,9 1.8 9 Manufacturing 817,7 86,3 11, 1. 1 Government 1,895,8 1,881, 1,6.8 11 Financial Activities 617,7 61, 3,7.6 1 Information 187,6 196, 8,.3 Table 3 Texas Industries and Government Shares of Employment March March Industry 11 199 Mining and Logging..3 Construction 5.6.8 Manufacturing 7.8 13. Trade 15.6 17.9 Transportation, Warehousing, Utilities.1.3 Information 1.8.5 Financial Activities 5.9 6.5 Professional and Business Services 1. 8.9 Education and Health Services 13.5 9.5 Leisure and Hospitality 9.7 8. Other Services 3.5 3.7 Government Sector 18.1 18.3 Sources: Texas Workforce Commission and Real Estate Center at Texas A&M University
Table Texas Metropolitan Areas Ranked by Employment Growth Rate, March 1 to March 11 Rank Metro Area Growth Rate 1 Odessa 6.1 Midland 5. 3 Longview 3. Dallas-Plano-Irving.7 5 Waco. Texas.3 6 College Station-Bryan.3 7 McAllen-Edinburg-Mission. 8 Corpus Christi.1 8 Amarillo.1 8 Houston-Sugar Land-Baytown.1 8 Killeen-Temple-Fort Hood.1 1 Beaumont-Port Arthur 1.9 1 Fort Worth-Arlington 1.9 1 Austin-Round Rock-San Marcos 1.8 1 San Angelo 1.8 16 Sherman-Denison 1. 16 El Paso 1. 18 Tyler 1.3 18 San Antonio-New Braunfels 1.3 Victoria 1. 1 Lubbock.5 Texarkana. Wichita Falls. Laredo.5 Brownsville-Harlingen.5 6 Abilene 1.7 Source: Texas Workforce Commission 5
Table 5 Texas Metropolitan Areas Ranked by Unemployment Rate, March 11 Rank Metro Area Unemployment Rate, 1 Midland.6 Amarillo 5. 3 College Station-Bryan 5.9 Lubbock 6. 5 San Angelo 6.1 6 Odessa 6.3 7 Abilene 6.5 8 Austin-Round Rock-San Marcos 6.8 9 Longview 6.9 1 Wichita Falls 7.1 11 San Antonio-New Braunfels 7.3 11 Victoria 7.3 13 Texarkana 7. 13 Waco 7. 15 Tyler 7.6 16 Corpus Christi 7.9 16 Killeen-Temple-Fort Hood 7.9 18 Fort Worth-Arlington 8. Texas 8.1 19 Dallas-Plano-Irving 8.1 Houston-Sugar Land-Baytown 8.3 Laredo 8.3 Sherman-Denison 8. 3 El Paso 1. Beaumont-Port Arthur 11. 5 McAllen-Edinburg-Mission 11.9 6 Brownsville-Harlingen 1. Source: Texas Workforce Commission 6
Figure 1 Nonfarm Employment Growth Rates for United States and Texas, 8 11 Texas U.S. - - -6 Figure Employment Growth Rates in Texas Mining and Logging Industry, 8 11 1-1 - -3 7
Figure 3 Employment Growth Rates in Texas Construction Industry, 8 11 5-5 -1-15 Figure Employment Growth Rates in Texas Professional and Business Services Industry, 8 11 8 - -8-1 8
Figure 5 Employment Growth Rates in Texas Education and Health Services Industry, 8 11 6 - Figure 6 Employment Growth Rates in Texas Leisure and Hospitality Industry, 8 11 6-9
Figure 7 Employment Growth Rates in Texas Other Services Industry, 8 11 - Figure 8 Employment Growth Rates in Texas Transportation, Warehousing, and Utilities Industry, 8 11 - - -6-8 1
Figure 9 Employment Growth Rates in Texas Trade Industry, 8 11 - - -6 Year::Month Figure 1 Employment Growth Rates in Texas Manufacturing Industry, 8 11 5-5 -1 11
Figure 11 Employment Growth Rates in Texas Government Sector, 8 11 5 3 1-1 Figure 1 Employment Growth Rates in Texas Financial Activities Industry, 8 11 - - 1
Figure 13 Employment Growth Rates in Texas Information Industry, 8 11 - -8 Figure 1 Nonfarm Employment Growth Rates, Austin-Round Rock-San Marcos, 8 11 6 - - 13
Figure 15 Nonfarm Employment Growth Rates, Dallas-Plano-Irving, 8 11 - - -6 Figure 16 Nonfarm Employment Growth Rates, Fort Worth-Arlington, 8 11 - - -6 1
Figure 17 Nonfarm Employment Growth Rates, Houston-Sugar Land-Baytown, 8 11 - - -6 Figure 18 Nonfarm Employment Growth Rates, San Antonio-New Braunfels, 8 11 - - 15