Local MSAs rank in top with job creation
According to Real Estate Center, an online research think tank, Texas’ pace of job creation exceeded the nation’s in Nov. 2016. Dallas-Plano-Irving and McAllen Edinburg-Mission both ranked first in job creation followed by Brownsville-Harlingen, San Angelo and College Station-Bryan.
The site reported that the state gained 212,600 nonagricultural jobs from Nov. 2015 to Nov. 2016, an annual growth rate of 1.8 percent, higher than that nation’s employment growth rate of 1.6 percent. The nongovernment sector also added 173,100 jobs, an annual growth rate of 1.7 percent. The percentage is the same as 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 in November was 4.6 percent. This is the same rate as a year ago. The nation’s rate also decreased from 5 to 4.6 percent.
In addition, the site highlighted that all Texas industries, except mining and logging and manufacturing, had more jobs. Education and health services ranked first in job creation. They are followed by leisure and hospitality, financial activities, trade and the government sector.
The City of McAllen posted the lowest unemployment rate for the month of November at 4.4%, dropping from 5.2% in September. According to the city, major customer care centers are opening or are already open and growing their business with several hundred employees over the next few years. Also, thanks to an overall increase in construction valuation in the City of McAllen of $155.5 million over the same time last year, city leaders expect to see an additional increase in construction employment and, once those jobs are complete, in both the retail and service industry.