The Texas economy continues to outperform the U.S. economy in the current recovery, according to the Real Estate Center’s latest monthly economic review.
The stateâ€™s economy gained 194,400 jobs from November 2009 to November 2010, an annual growth rate of 1.9 percent, compared with the nationâ€™s 842,000 jobs, an annual growth rate of 0.6 percent.
Texasâ€™ private sector continues to play a key role in job creation. The stateâ€™s private sector posted an annual employment growth rate of 2.2 percent compared with 1 percent for the U.S. private sector from November 2009 to November 2010.
The stateâ€™s seasonally adjusted unemployment rate was 8.2 percent in November 2010, the same as in November 2009, while the nationâ€™s rate decreased from 10.0 to 9.3 percent over the same period.
All Texas industries except the trade and information industries had more jobs in November 2010 than in November 2009. The stateâ€™s mining and logging industry ranked first in job creation followed by professional and business services, education and health services and manufacturing.
All Texas metro areas had more jobs in November 2010 than in November 2009. McAllen-Edinburg-Mission ranked first in job creation followed by Brownsville-Harlingen and Austin-Round Rock-San Marcos.
The stateâ€™s actual unemployment rate in November 2010 was 8.3 percent. Midland had the lowest unemployment rate followed by Amarillo, Lubbock, College Station-Bryan and Abilene.