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Texas' economy gained 133,100 jobs from August 2009 to August 2010, an annual growth rate of 1.3 percent.
During the same period, the U.S. economy added 278,000 jobs, an annual growth rate of 0.2 percent. The state's private sector posted an annual employment growth rate of 1.4 compared with 0.3 percent for the United States.
The state’s seasonally adjusted unemployment rate rose from 8 percent in August 2009 to 8.3 percent in August 2010, while the nation’s rate in August decreased from 9.7 to 9.6 percent.
All Texas industries except the trade, construction and information industries had more jobs in August 2010 than in August last year.
Twenty-four Texas metro areas had positive employment growth rates for the year ending Aug. 31, up from 19 for the period from July 2009 to July 2010. Sherman-Denison ranked first in job creation, followed by San Angelo, Austin-Round Rock-San Marcos, Odessa and Tyler.
The state’s actual unemployment rate in August 2010 was 8.4 percent. Midland had the lowest unemployment rate followed by Amarillo, Lubbock, San Angelo and Abilene.
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Showing posts with label texas economy. Show all posts
Showing posts with label texas economy. Show all posts
Friday, October 8, 2010
Monday, November 9, 2009
POSITIVE PREDICTIONS FOR TEXAS ECONOMY
AUSTIN (Austin Business Journal) – The Texas economy is predicted to begin a slow, steady recovery in 2010, according to BBVA Compass’ U.S. Regional Watch third-quarter report.
The report predicts a 1.7 percent increase in the state’s gross domestic product (GDP) in 2010, following a small contraction in 2009. This will be aided in part by a surge in home sales, according to the bank’s economists.
Home sales across Texas are predicted to increase by 4.5 percent in 2010 after declining by 12 percent by the end of 2009.
Though Texas projected a 9.5 percent deficit at the beginning of the year, it is the only state among the seven Sun Belt states covered by BBVA Compass to forecast a balanced budget in 2010.
The report also said that Texas will benefit the most from funding through the federal government stimulus program, considering the amount of money to be received by the state equates to its entire 2009 budget shortfall.
The report predicts a 1.7 percent increase in the state’s gross domestic product (GDP) in 2010, following a small contraction in 2009. This will be aided in part by a surge in home sales, according to the bank’s economists.
Home sales across Texas are predicted to increase by 4.5 percent in 2010 after declining by 12 percent by the end of 2009.
Though Texas projected a 9.5 percent deficit at the beginning of the year, it is the only state among the seven Sun Belt states covered by BBVA Compass to forecast a balanced budget in 2010.
The report also said that Texas will benefit the most from funding through the federal government stimulus program, considering the amount of money to be received by the state equates to its entire 2009 budget shortfall.
Wednesday, November 4, 2009
TEXAS TO LEAD ECONOMIC RECOVERY
SAN ANTONIO (San Antonio Business Journal) – The four major Texas metros will be among the first in the nation to recover from the recession, according to a nationwide forecast by IHS Global Insight.
San Antonio and Austin will lead the way, bouncing back to their prerecession job levels sometime next year, predicts the Lexington, Mass.–based economic forecasting firm.
Houston and Dallas–Fort Worth are among eight other metropolitan areas predicted to recover by 2011.
San Antonio and Austin will lead the way, bouncing back to their prerecession job levels sometime next year, predicts the Lexington, Mass.–based economic forecasting firm.
Houston and Dallas–Fort Worth are among eight other metropolitan areas predicted to recover by 2011.
Monday, November 2, 2009
TEXAS CITIES RANK HIGH ON ECONOMY, HOUSING PRICES
TEXAS (Dallas Morning News) – Texas metros boast the strongest economies, according to a just-released analysis by the Brookings Institution.
Austin ranked first in a second-quarter comparison of 100 U.S. cities. Dallas–Fort Worth ranked fourth and El Paso sixth.
Houston's economy landed it at ninth, but the Bayou City ranked first among cities with the biggest increases in home prices. Local home prices jumped 4.9 percent over the last year.
Third-ranked DFW had a 3.8 percent increase in home prices, while tenth-ranked San Antonio had a 3.1 percent increase.
Austin ranked first in a second-quarter comparison of 100 U.S. cities. Dallas–Fort Worth ranked fourth and El Paso sixth.
Houston's economy landed it at ninth, but the Bayou City ranked first among cities with the biggest increases in home prices. Local home prices jumped 4.9 percent over the last year.
Third-ranked DFW had a 3.8 percent increase in home prices, while tenth-ranked San Antonio had a 3.1 percent increase.
Friday, October 23, 2009
TEXAS ECONOMY'S TURNING POINT?
COLLEGE STATION (Real Estate Center) – Texas lost fewer nonfarm jobs in July than in June, suggesting that the state's economic downturn has reached a turning point.
According to the latest economic review from the Real Estate Center at Texas A&M University, the Texas economy lost 219,200 nonfarm jobs from July 2008 to July 2009, an annual job loss of 2.1 percent. This was an improvement on the 2.4 percent loss from June 2008 to June 2009.
The U.S. economy lost 4.2 percent of its total nonfarm jobs from July 2008 to July 2009, the same rate as from June 2008 to June 2009, indicating a trend toward stabilization of the national economy. The state’s seasonally adjusted unemployment rate rose from 4.9 percent in July 2008 to 7.9 percent in July 2009, while the U.S. rate rose from 5.8 percent to 9.4 percent during the same period.
Only three Texas industries (education and health services, leisure and hospitality, other services industry) and the government sector had more jobs in July 2009 than in July 2008. Nine industries experienced net job losses over the same period, said Dr. Ali Anari, research economist with the Center.
Four Texas metro areas experienced positive employment growth rates from July 2008 to July 2009, while 22 metros had net job losses. McAllen-Edinburg-Mission ranked first in job creation, followed by El Paso, Laredo and Odessa.
The state’s actual unemployment rate in July 2009 was 8.2 percent. Amarillo had the lowest unemployment rate, followed by Lubbock, Midland, Abilene and College Station.
According to the latest economic review from the Real Estate Center at Texas A&M University, the Texas economy lost 219,200 nonfarm jobs from July 2008 to July 2009, an annual job loss of 2.1 percent. This was an improvement on the 2.4 percent loss from June 2008 to June 2009.
The U.S. economy lost 4.2 percent of its total nonfarm jobs from July 2008 to July 2009, the same rate as from June 2008 to June 2009, indicating a trend toward stabilization of the national economy. The state’s seasonally adjusted unemployment rate rose from 4.9 percent in July 2008 to 7.9 percent in July 2009, while the U.S. rate rose from 5.8 percent to 9.4 percent during the same period.
Only three Texas industries (education and health services, leisure and hospitality, other services industry) and the government sector had more jobs in July 2009 than in July 2008. Nine industries experienced net job losses over the same period, said Dr. Ali Anari, research economist with the Center.
Four Texas metro areas experienced positive employment growth rates from July 2008 to July 2009, while 22 metros had net job losses. McAllen-Edinburg-Mission ranked first in job creation, followed by El Paso, Laredo and Odessa.
The state’s actual unemployment rate in July 2009 was 8.2 percent. Amarillo had the lowest unemployment rate, followed by Lubbock, Midland, Abilene and College Station.
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