Texas Adds Nearly 29,000 Jobs In November, While Houston Job Growth Eases
by: Andrew Schneider, December 20, 2013 11:12:00 am
The Texas Workforce Commission reports the state added 28,700 jobs over the course of November. That brings the state’s total job gains for the year-to-date to more than 274,000.
The trade, transportation and utilities sector posted the most new hires in November. The leisure and hospitality sector saw the most layoffs.
Among all fifty states, Texas came in second for employment gains over the month – behind California and just ahead of Indiana.
The state’s unemployment rate dropped to 5.8% in November, down from 6% in October. Unemployment in the Houston area fell to 5.6% in November, down from 5.9% the month before. The national jobless rate in November was 7%.
The latest regional economic update by Comerica Bank projects Houston’s payroll job growth rate will finish up the year at 2.7%. That’s down from an annualized job growth rate of 4.5% in February.
Comerica forecasts that Houston’s job growth rate will continue to slow over the coming year. The bank cites moderating growth in the energy sector, as the drilling rig count eases. On the plus side, Exxon will continue to move jobs to the region as it prepares to open its campus in The Woodlands.