The Texas Workforce Commission today released its March 2012 employment report and there’s a lot in the report for Texas jobseekers to be happy about.
– Texas’ economy created 10,900 net new jobs in March, “marking the 20th consecutive month of growth in the state’s total nonfarm employment.” Industries with the largest employment gains included: Leisure and Hospitality (+6,000) and Information (+3,100). Government employment rose between Feb. 2012 and March 2012 by 2,900 positions. – Year-over-year, Texas’ economy has added almost 250,000 net new jobs. Industries with the largest annual gains include: Trade, Transportation, and Utilities (+54,900) and Professional and Business Services (+51,000). Government employment from March 2011 to March 2012 has declined by 54,900 positions. – The state’s seasonally adjusted unemployment rate for March was 7 percent, down from 7.1 percent in February and down from 8 percent a year ago. – Texas’ unemployment rate has now tracked at or below the national average for 63 consecutive months.
The data seems to suggest that Texas’ economic recovery is well underway, with the state posting strong employment gains and its unemployment rate trending well below the national average. The data also seems to bear out that the idea that free markets and limited government work, and they work well.