AUSTIN – Today, the U.S. Bureau of Labor Statistics released state-level labor market data for Texas in October 2017. The Texas Public Policy Foundation’s Director of the Center for Economic Prosperity and Senior Economist Dr. Vance Ginn issued the following statement:
“Job creation in Texas rebounded last month after declining from the effects of Hurricane Harvey in September,” said Dr. Ginn. “Net nonfarm jobs increased by 71,500 jobs in October for a nation-leading total of 316,100 jobs added in the last year. Texas has now created net nonfarm jobs in a remarkable 80 of the last 85 months, contributing to the creation of roughly one out of every five new jobs nationwide since December 2007. The Texas model’s success doesn’t end there as the state’s record low unemployment rate of 3.9 percent continues to be at or below 5 percent for an unmatched 40 straight months in comparable states. Texas’ rebound in job creation after a record rain event shows the resiliency of Texans to flourish in a free enterprise system with limited government.”
For more information, please contact Alicia Pierce at [email protected] or 512-472-2700.
Vance Ginn, Ph.D. is Director of the Center for Economic Prosperity and Senior Economist at the Texas Public Policy Foundation.
The Texas Public Policy Foundation is a non-profit free-market research institute based in Austin. The Texas Public Policy Foundation aims to advance a societal framework that effectively fosters human flourishing based upon cooperation and mutually beneficial exchange of ideas and speech.