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Saturday, November 26, 2022
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Texas Added 40,000 New Jobs Last Month

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Now Hiring sign at business | Image by Shutterstock

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Texas added 40,000 new, nonfarming jobs in September across various employers, according to the Texas Workforce Commission (TWC), doubling the number added in August, when hiring slowed to its lowest rate since early 2021.

Only Florida outpaced Texas in job gains nationally in September, with 48,000 jobs added, according to a report from the U.S. Bureau of Labor Statistics.

Alongside the increase in new jobs, the state’s unemployment rate decreased slightly to 4%. There has been a decline of 0.1 percentage points since August 2022, according to the data released by the Texas Workforce Commission.

For the eleventh consecutive month, the TWC reported, the state set new employment highs as total nonfarm employment reached 13,571,800. The Texas economy has added 721,800 positions since September 2021.

“Growth slowed in August so we were concerned,” explained Pia Orrenius, a senior economist at the Federal Reserve Bank of Dallas. “We didn’t know if it was a one-off or the beginning of a more steep slowing phase. But it bounced back in September to a really healthy number.”

“Texas’ total nonfarm job annual growth rate has outpaced the United States for the last 15 months, demonstrating one of the key factors that make Texas the top choice for employers and their workforce,” TWC Chairman Bryan Daniel said.

Texas led all states in job growth by adding 721,800 jobs in the last year, a 5.6% increase over September 2021. The state’s labor force participation rate of 63.6% last month was another stat that exceeded the national mark.

“Texas is the land of opportunity where people want to live and work — and where businesses want to invest and grow,” said Governor Greg Abbott in a statement.

Abbott is up for re-election on November 8 and has claimed economic, job, and business growth as key achievements during his tenure as governor.

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