texas

Texas Unemployment Rate Up Slightly in August to 4.7 Percent

The Texas unemployment rate rose slightly in August to reach 4.7 percent -- the third straight month of increases, state labor officials said Friday.

The Texas Workforce Commission reports that the latest figure compares to a 4.6 percent statewide jobless rate in July. Nationwide unemployment last month was 4.9 percent, an agency statement said.

Amarillo had the lowest jobless rate in Texas last month at 3.4 percent. The McAllen-Edinburg-Mission area recorded the state's highest unemployment during August at 8.4 percent, according to commission officials.

"Texas employers added 190,600 jobs over the past year, with the diversity of our economy highlighted by nine out of eleven industries adding jobs," said Andres Alcantar, agency chairman.

Texas grew by an estimated 21,400 nonfarm jobs in August. The financial activities industry recorded the largest industry employment gain over the month with 6,200 jobs added, according to the TWC. Trade, transportation and utilities employment added 4,000 jobs during August.

"Private-sector employment was strong over the year with the overall job growth of 150,900 and 18,500 jobs added in August," Commissioner Ruth R. Hughs said. "The fact that our state has added jobs for 16 of the last 17 months is a credit to the diversity and resilience of employers in Texas."

A different report, from the Federal Reserve Bank of Dallas, said the state added 31,300 jobs in July and that "the Texas Economic Forecast calls for 1.2 percent growth for 2016, suggesting 138,200 jobs will be added this year."

The Dallas Fed said that unemployment rates increased in seven of nine major Texas metro areas in August.

"The Dallas Fed releases its Texas Employment Forecast on a monthly basis in conjunction with the release of monthly Texas employment data. The forecast projects job growth for the calendar year and is estimated as the 12-month change in payroll employment from December to December," the organization said in a news release.

For more on the Fed's methodology, visit DallasFed.org.

Copyright AP - Associated Press
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