Texas Economy Cooling, But Still Creating Jobs
According to the Real Estate Center at Texas A&M, Texas gained 154,600 jobs from December 2007 to December 2008, while the U. S. economy lost more than 2.8 million jobs over the same period. Also during the same period, the state’s unemployment rate rose from 4.2% to 6%, and the U.S. rate went up to 7.2%.
All texas metros experienced positive employment growth rates from December 2007 to December 2008.
As usual, the oil and gas industry ranked first among texas industries in employment growth rate. It appears however, that recent decreases in oil prices has slowed the pace of new jobs in the oil and gas field.
Filed under: Investing, Relocation by Dwight's Real Estate Update