Despite the sluggish national economic recovery, tens of thousands of non-Texans are moving to the state. At the same time, the housing market is showing signs of improvement with increases in both starts and new home sales last year. With oil prices expected to remain over $100 this year, drilling activity will continue to rise. In short, 2012 promises a brighter economic picture for Texas than 2011.
Southern Methodist University - Texas
Texas added 20,200 nonfarm jobs in December for a total of 204,500 jobs added over the year. Private employers in Texas added 10,100 jobs in December for a total of 260,000 private sector jobs added over the year. Texas has experienced positive annual job growth for the last 20 consecutive months with annual growth rates at or above 2.0 percent for the last seven months.
The Leisure and Hospitality industry added 4,100 jobs in December, totaling 41,200 jobs added over the year. This resulted in a robust annual growth rate of 4.0 percent. Growth in the Manufacturing industry continued as this industry added 2,200 jobs in December for a total of 25,200 jobs over the year for an annual growth rate of 3.1 percent. The Mining and Logging industry expanded by 2,000 jobs over the month, totaling 40,700 jobs gained over the year.
Texas Workforce Commission
http://www.twc.state.tx.us
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