AUSTIN – Today, the Texas Workforce Commission released Texas labor market data for October 2015. The Texas Public Policy Foundation’s Center for Fiscal Policy Economist Dr. Vance Ginn issued the following statement:
“With 20,000 nonfarm jobs added last month, Texas has now added jobs for a remarkable 59 out of the last 61 months. Albeit a slower 1.7 percent increase in job growth during the last 12 months, the Texas model continues to foster a highly diversified economic environment for job creation such that the 4.4 percent unemployment rate has now been below the national average for 106 consecutive months. Texas must remain a fiscally conservative beacon of prosperity as highlighted by Texans creating 1.5 million new civilian jobs since the Great Recession started in December 2007, which is a phenomenal 52 percent of all U.S. jobs added during this almost eight-year period. In other words, though there has been some slowdown in the Lone Star State’s labor market, the American dream remains alive in Texas.”
Vance Ginn, Ph.D. is an Economist in the Center for Fiscal Policy at the Texas Public Policy Foundation.
The Texas Public Policy Foundation is a non-profit, free-market research institute based in Austin, Texas.