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 APRIL 13 TR
Monthly Review of the Texas Economy April 13 By Ali Anari and Mark G. Dotzour The Texas economy continues to create jobs at a pace twice the national average. The state s economy gained 3, nonagricultural jobs from March 1 to March 13, an annual growth rate of 3 percent compared with 1.5 percent for the United States (Table 1 and Figure 1). The state s nongovernment sector added 31, jobs, an annual growth rate of 3.5 percent compared with 1.9 percent for the nation s private sector (Table 1). Texas seasonally adjusted unemployment rate fell to. percent in March 13 from 7 percent in March 1. The nation s rate decreased from 8. to 7. percent (Table 1). Table shows Texas industries ranked by employment growth rate from March 1 to March 13. Table 3 shows the relative importance of the state s industries based on number of employees. All Texas industries and the state s government sector had more jobs in March 13 than in March 1. The state s mining and logging industry ranked first in job creation, followed by the construction industry, leisure and hospitality services, and professional and business services. The state s mining and logging industry gained 1,8 jobs from March 1 to March 13, an annual growth rate of. percent, ranking first in job creation (Table and Figure ). Texas construction industry added 35, jobs from March 1 to March 13, a. percent growth rate (Table and Figure 3). Job gains consisted of 5,5 jobs in the state s construction of buildings industry, 7, jobs in heavy and civil engineering construction industry, and 3,1 jobs in specialty trade contractors. Texas leisure and hospitality industry (arts, entertainment, recreation, accommodations and food services) gained,8 jobs from March 1 to March 13, an annual growth rate of 5.9 percent (Table and Figure ). The state s professional and business services industry gained 5, jobs from March 1 to March 13, an annual growth rate of 3.9 percent (Table and Figure 5). Job gains consisted of 3,1 jobs in the state s administrative and support services industry, 3, jobs in professional, scientific and technical services, and 1,3 jobs in the state s management of companies and enterprises industry. The other services industry (repair and maintenance, personal and laundry services, religious, civic and professional organizations) gained 13,5 jobs over the year, a 3. percent increase (Table and Figure ).
Texas education and health services industry added 5,1 jobs from March 1 to March 13, an annual growth rate of 3.5 percent (Table and Figure 7). Job gains consisted of 5, jobs in the state s health services industry and,5 jobs in education. The state s trade industry gained 5, jobs from March 1 to March 13, a 3.3 percent increase (Table and Figure 8). Job gains consisted of, in wholesale trade and 3, jobs in the retail trade industry. Trade is the state s largest industry after government, accounting for 15.8 percent of nonfarm employment (Table 3). Texas financial activities (finance, insurance, real estate, rental and leasing services) added 11, jobs from March 1 to March 13, an annual growth rate of 1.7 percent (Table and Figure 9). Job gains consisted of 1,5 jobs in the state s real estate, rental and leasing industry and 9,7 in the state s finance and insurance industry. The state s manufacturing industry gained, jobs from March 1 to March 13, an annual growth rate of.7 percent (Table and Figure 1). The durable manufacturing industry gained 9,3 jobs while the state s nondurable manufacturing lost 3,3 jobs. Major job gains in durable goods manufacturing were in fabricated metal product manufacturing (,7 jobs), machinery manufacturing (,7), transportation equipment manufacturing (7), electric equipment, appliance and component manufacturing (9), nonmetallic mineral product manufacturing (7), wood product manufacturing (8), and furniture and related product manufacturing (). Major job losses in durable goods manufacturing were in computer and electronic product manufacturing (1,9). Major job gains in the state s nondurable manufacturing industry were in chemical manufacturing (,), petroleum and coal products manufacturing (), and beverage and tobacco product manufacturing (3). Major job losses in this industry were in food manufacturing (1,), printing and related support manufacturing (1,) and paper manufacturing (). The state s government sector gained 1, jobs from March 1 to March 13, an annual growth rate of.7 percent (Table and Figure 11). Government job gains consisted of 1,9 local government jobs and 3, state government jobs. The state s federal government lost 1,7 jobs over the period. The state s transportation, warehousing and utilities industry gained,1 jobs over the year, a.5 percent growth rate (Table and Figure 1). Texas information industry (internet service providers, web search portals, publishing industries, broadcasting and telecommunications) gained 9 jobs from March 1 to March 13, an annual growth rate of.5 percent (Table and Figure 13). Texas Metropolitan Statistical Areas All Texas metro areas except Texarkana and Wichita Falls had more jobs in March 13 than in March 1 (Table ). Odessa ranked first in job creation, followed by Midland, Corpus Christi, Austin-Round Rock-San Marcos, Houston-Sugar Land-Baytown, and Fort Worth-Arlington (Table ).
The Austin-Round Rock-San Marcos metro area s annual employment growth rate from March 1 to March 13 was percent, ranking it fourth among the Texas metro areas (Table and Figure 1). The Dallas-Plano-Irving metro area posted an annual employment growth rate of 3.3 percent in March 13 (Table and Figure 15). The metro area ranked eighth in employment growth rate (Table ). The Fort Worth-Arlington metro area s annual employment growth from March 1 to March 13 was 3. percent, ranking it sixth in employment growth rate (Table and Figure 1). Houston-Sugar Land-Baytown metro area posted an annual employment growth rate of 3.9 percent in March 13 and ranked fifth among Texas metro areas (Table and Figure 17). The San Antonio-New Braunfels metro area had a 1.9 percent annual employment growth rate in March 13, ranking it 15 th (Table and Figure 18). The state s actual unemployment rate in March 13 was.3 percent. Midland had the lowest unemployment rate followed by Odessa, Amarillo, Abilene, San Angelo, and College Station (Table 5). Table 1 Texas and U.S. Labor Markets Change Nonfarm Employment March 13 March 1 Absolute Texas 11,9, 1,77, 3, 3. United States 13,85, 13,55, 1,98, 1.5 Private Employment March 13 March 1 Absolute Texas 9,, 8,95, 31, 3.5 United States 11, 5, 11,157,,8, 1.9 Actual Seasonally Adjusted Unemployment Rate March 13 March 1 March 13 March 1 Texas.3 7.. 7. United States 7. 8. 7. 8. : Texas Workforce Commission and Bureau of Labor Statistics 3
Table Texas Industries and Texas Government Sector Ranked by Employment Growth Rate from March 1 to March 13 Change Rank Industry March 13 March 1 Absolute 1 Mining and Logging 8, 3, 1,8. Construction 8,7 573,1 35,. 3 Leisure & Hospitality 1,18, 1,5,8,8 5.9 Professional & Business Services 1,39,5 1,385,1 5, 3.9 5 Other Services 388, 37,9 13,5 3. Education & Health Services 1,97,8 1,7,7 5,1 3.5 7 Trade 1,75,3 1,93,7 5, 3.3 8 Financial Activities 3,7 5,5 11, 1.7 9 Manufacturing 8,3 85,3,.7 9 Government 1,83, 1,8, 1,.7 11 Transportation, Warehousing, Utilities,7,,1.5 11 Information 197, 19,7 9.5 Table 3 Texas Industries and Government Shares of Employment March March Industry 13 199 Mining and Logging.5.3 Construction 5.5.8 Manufacturing 7.8 13. Trade 15.8 17.9 Transportation, Warehousing, Utilities..3 Information 1.8.5 Financial Activities..5 Professional and Business Services 13. 8.8 Education and Health Services 13.5 9.5 Leisure and Hospitality 1. 8. Other Services 3.5 3.7 Government Sector 1.5 18. Note: Components may not add to 1 due to rounding.
Table Texas Metropolitan Areas Ranked by Employment Growth Rate, March 1 to March 13 Rank Metro Area Growth Rate 1 Odessa 7.8 Midland 7. 3 Corpus Christi.3 Austin-Round Rock-San Marcos. 5 Houston-Sugar Land-Baytown 3.9 Fort Worth-Arlington 3. 7 San Angelo 3.5 8 Dallas-Plano-Irving 3.3 9 Laredo 3.1 Texas 3. 1 College Station-Bryan 3. 11 Victoria.5 1 Waco. 13 Killeen-Temple-Fort Hood. 13 Lubbock. 15 San Antonio-New Braunfels 1.9 1 Brownsville-Harlingen 1.7 17 Longview 1. 17 El Paso 1. 19 Abilene 1.5 McAllen-Edinburg-Mission 1. Sherman-Denison 1. Tyler.9 3 Amarillo.8 Beaumont-Port Arthur.3 5 Wichita Falls. Texarkana -. Source: Texas Workforce Commission 5
Table 5 Texas Metropolitan Areas Ranked by Unemployment Rate, March 13 Rank Metro Area Unemployment Rate, 1 Midland 3.1 Odessa 3.7 3 Amarillo. Abilene.9 San Angelo.9 College Station-Bryan 5.1 7 Victoria 5. 8 Lubbock 5.3 8 Austin-Round Rock-San Marcos 5.3 1 Longview 5.5 11 Corpus Christi 5.9 11 Wichita Falls 5.9 13 Waco. 13 San Antonio-New Braunfels. 15 Fort Worth-Arlington.1 15 Houston-Sugar Land-Baytown.1 17 Dallas-Plano-Irving. Texas.3 18 Tyler. 19 Laredo. Texarkana.8 Sherman-Denison.8 Killeen-Temple-Fort Hood.9 3 El Paso 8.9 Beaumont-Port Arthur 9.7 5 Brownsville-Harlingen 1.1 McAllen-Edinburg-Mission 1. Source: Texas Workforce Commission
Figure 1 Nonfarm Employment Growth Rates for United States and Texas, 1 13 Texas U.S. - - Figure Employment Growth Rates in Texas Mining and Logging Industry, 1 13 1-1 - s Source 7
Figure 3 Employment Growth Rates in Texas Construction Industry, 1 13 1 5-5 -1-15 s Source Figure Employment Growth Rates in Texas Leisure and Hospitality Industry, 1 13 8-8
Figure 5 Employment Growth Rates in Texas Professional and Business Services Industry, 1 13 - - Figure Employment Growth Rates in Texas Other Services Industry, 1 13-9
Figure 7 Employment Growth Rates in Texas Education and Health Services Industry, 1 13 - Figure 8 Employment Growth Rates in Texas Trade Industry, 1 13 - - 1
Figure 9 Employment Growth Rates in Texas Financial Activities Industry, 1 13 - - Figure 1 Employment Growth Rates in Texas Manufacturing Industry, 1 13 5-5 -1 s Source 11
Figure 11 Employment Growth Rates in Texas Government Sector, 1 13 - - Figure 1 Employment Growth Rates in Texas Transportation, Warehousing, and Utilities Industry, 1 13 - - - 1
Figure 13 Employment Growth Rates in Texas Information Industry, 1 13 - - - -8 Figure 1 Nonfarm Employment Growth Rates, Austin-Round Rock-San Marcos, 1 13-13
Figure 15 Nonfarm Employment Growth Rates, Dallas-Plano-Irving, 1 13 - - Figure 1 Nonfarm Employment Growth Rates, Fort Worth-Arlington, 1 13 - - 1
Figure 17 Nonfarm Employment Growth Rates, Houston-Sugar Land-Baytown, 1 13 - - Figure 18 Nonfarm Employment Growth Rates, San Antonio-New Braunfels, 1 13 3 1-1 15