Texas Economy Growing Faster Than Nation’s

COLLEGE STATION (Real Estate Center) – Texas’ economy continues to outperform the U.S. economy, according to the latest Monthly Review of the Texas Economy produced by the Real Estate Center.

Texas gained 254,900 jobs from April 2010 to April 2011, an annual growth rate of 2.5 percent. Over the same period, U.S. nonfarm employment rose 1.1 percent.

The state’s private sector also exceeded U.S. figures, posting an annual employment growth rate of 3 percent compared with the nation’s 1.7 percent .

Texas’ seasonally adjusted unemployment rate fell to 8 percent last month from 8.2 a year ago. During that time, the nation’s rate decreased from 9.8 to 9 percent.

All Texas industries except the information industry had more jobs in April 2011 than in April 2010. All Texas metro areas except Abilene had more jobs, as well. Petroplex Odessa ranked first in job creation followed by petroplex Midland, Dallas-Plano-Irving, Beaumont-Port Arthur and Amarillo.

The state’s actual unemployment rate last month was 7.7 percent. Midland had the lowest unemployment rate followed by Amarillo, College Station-Bryan, Lubbock and San Angelo.