AUSTIN – Today, the U.S. Bureau of Labor Statistics released state-level labor market data for August 2018. Texas employers created 32,000 net nonfarm jobs in August and the leads the nation with 391,000 net nonfarm jobs created within the last 12 months.
The Texas Public Policy Foundation’s Director of the Center for Economic Prosperity and Senior Economist Dr. Vance Ginn issued the following statement:
“Texas still leads the nation in job creation during the last 12 months with jobs added in every industry except information. Texas’ annualized job creation pace of 3.2 percent is one of the most robust nationwide. This is yet another example of how lower-tax states tend to have faster job creation.”
The Texas Workforce Commission reports Texas’ unemployment rate of 3.9 percent in August matches the U.S. average and the state’s rate has now been at or below 5 percent for 49 straight months. Texas has now had positive job creation in 97 of the last 103 months.
The unemployment rates in major Texas metro areas remained essentially unchanged from last month: Austin-Round Rock at 3 percent, Dallas-Fort Worth-Arlington at 3.6 percent, Houston-The Woodlands-Sugar Land at 4.3 percent, and San Antonio-New Braunfels at 3.5 percent.
For more information, please contact Sarah Silberstein at firstname.lastname@example.org or 512-472-2700.
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.