AUSTIN – Today, the U.S. Bureau of Labor Statistics released state-level labor market data for April 2018. Texas employers created the most net nonfarm jobs (+36,900) of any state and the state has 22 consecutive months of positive job creation. The Texas Public Policy Foundation’s director of the Center for Economic Prosperity and senior economist Dr. Vance Ginn issued the following statement:
“The Texas jobs market remains hot as the private sector’s annual job creation rate hit 3.2 percent—the highest in three years,” said Dr. Ginn. “When you focus on relatively light taxation and regulation, like in Texas, the results speak for themselves. The benefits of the federal tax cuts and regulatory reforms have also helped employers statewide in addition to the resulting pro-growth climate.”
The Texas Workforce Commission reports diversified job creation across all industries in Texas except the information and financial services categories. With 332,300 jobs created in last twelve months, Texas’ unemployment rate of 4.1 percent in March has remained at or below 5 percent for 45 straight months.
The unemployment rates in major Texas metro areas remained essentially unchanged from last month: Austin-Round Rock at 2.8 percent, Dallas-Fort Worth-Arlington at 3.4 percent, Houston-The Woodlands-Sugar Land at 4.2 percent, and San Antonio-New Braunfels at 3.1 percent.
Vance Ginn, Ph.D. is Director of the Center for Economic Prosperity and Senior Economist at the Texas Public Policy Foundation.
For more information, please contact Alicia Pierce at [email protected] or 512-472-2700.
The Texas Public Policy Foundation is a non-profit, free-market research institute based in Austin that aims to foster human flourishing by protecting and promoting liberty, opportunity and personal responsibility.