The TechAmerica Foundation released the 15th edition of Cyberstates, the only comprehensive look at tech employment, wages, and other key economic factors nationally and state-by-state. Texas’ tech industry added 10,000 new jobs between 2011 and 2012, for a total of 485,600 jobs. This employment growth was led by such industry sectors as computer systems design (+7,100) and engineering services (+2,100) “I’m proud to see Texas performing so well in the tech job sector. Texas universities continue to advance the frontiers of new technology. Combined with our state’s common-sense approach to job creation, it is no surprise that Texas is one of the best places to start and expand a business,” said Sen. John Cornyn. More…
Archive for the ‘Economic Indicators’ Category
COLLEGE STATION (Real Estate Center) – The Texas economy gained 290,500 nonagricultural jobs from June 2012 to June 2013, an annual growth rate of 2.7 percent compared with 1.7 percent for the United States. The state’s nongovernment sector added 275,800 jobs, an annual growth rate of 3 percent compared with 2 percent for the nation’s private sector.
According to the Real Estate Center’s latest Monthly Review of the Texas Economy, Texas’ seasonally adjusted unemployment rate fell to 6.5 percent in June 2013 from 7 percent in June 2012. The nation’s rate decreased from 8.2 to 7.6 percent.
All Texas industries except the transportation, warehousing and utilities industry had more jobs last month than a year ago. The state’s construction industry ranked first in job creation, followed by leisure and hospitality services, professional and business services, and mining and logging.
All Texas metro areas except Wichita Falls, Tyler, Beaumont-Port Arthur and Texarkana had more jobs than a year ago. Midland ranked first in job creation, followed by Odessa, Fort Worth-Arlington, Houston-Sugar Land-Baytown and Austin-Round Rock-San Marcos.
The state’s actual unemployment rate was 6.9 percent. Midland had the lowest unemployment rate followed by Odessa, Amarillo, Abilene and Austin-Round Rock-San Marcos.
Area Development, the leading publication covering site selection and facility planning, awarded Texas a 2013 Gold Shovel.
Texas is far ahead of the game when it comes to economic recovery. Employers are looking at the recent recession through a rear-view mirror. Texas replaced all of its recession-hit jobs by December 2011. By March 2013, the state’s unemployment rate had dropped to 6.4 percent, more than a percentage point below the national average – it’s been below the national average for more than 75 consecutive months now. The state’s gross domestic product was up by 3.2 percent last year, well ahead of the national growth rate.
The annual Shovel Award recognizes state economic development agencies that drive significant job creation through innovative policies and infrastructure improvements, as well as processes and promotions that attract new employers. Gold Shovels are presented to states that have achieved the most success in terms of new job creation and economic impact. Click here for the Full Report.