web stats Web Analytics by Logaholic

Houston Luxury Real Estate Articles and insights to the Houston area luxury home real estate market as observed by local luxury home expert Mark A. Fuller.

Tips and Hints

Texas job growth twice as nice

Texas gained 254,000 jobs during the 12 months ending April 30, an annual growth rate of 2.5 percent, according to the latest Monthly Review of the Texas Economy produced by the Real Estate Center at Texas A&M University. During that same period, U.S. nonfarm employment rose 1.1 percent.

The state's private sector employment growth also was higher than the nation as a whole, 3 percent compared with 1.7 percent.

Texas' seasonally adjusted unemployment dipped to 8 percent in April, from 8.2 percent from the same time last year. Meanwhile, national unemployment fell from 9.8 percent to 9 percent.

All Texas industries except the information industry had more jobs in April 2011 than a year earlier, said Center Research Economist Dr. Ali Anari, coauthor of the monthly report.

Mark Fuller is a leading real estate professional specializing in Luxury Homes In Houston Texas.

Mining and logging ranked first in job creation during the period with 31,800 additions, an annual growth rate of 15.9 percent. Jobs got a boost as the average number of active rotary rigs increased from 668.7 to 848.1, according to Hughes Tool Co.

The 24,500 new construction jobs (a 4.3 percent increase) ranked that industry second. Gains came in building construction (200 jobs), heavy and civil engineering construction (10,700) and specialty trade contractors (13,600).

Texas' professional and business services sector added 54,200 jobs, an annual growth rate of 4.3 percent. This included 46,900 jobs in administrative and support services and 7,300 in professional, scientific and technical services.

The state's education and health services industry added 49,600 jobs, an annual growth rate of 3.6 percent. Health services accounted for 50,100 while education lost 500.

The state's leisure and hospitality industry gained 30,400 jobs, an annual growth rate of 3 percent.

For the April-to-April reporting period, the trade sector added 41,100 jobs, up 2.5 percent. Jobs in this industry included 15,900 in wholesale and 25,200 in retail. Trade is the state¡¯s largest industry after government.

Other services (repair and maintenance; personal and laundry services; and religious, civic and professional organizations) gained 9.100 jobs, a 2.5 percent annual growth rate. Transportation, warehousing and utilities gained 9,200 jobs, a 2.2 percent growth rate.

All Texas metropolitan areas except Abilene had more jobs in April 2011 than they did in April 2010. Petroplex Odessa ranked first in job creation (up 4.5 percent) followed by petroplex Midland (up 4 percent) then Dallas-Plano-Irving (up 3.1 percent), Beaumont-Port Arthur (up 3.1 percent) and Amarillo (up 3 percent). The statewide average was 2.5 percent.

Mark Fuller is a leading real estate professional specializing in Luxury Homes In Houston Texas.

Texas Industries Employment Growth Rate, April 2010 to April 2011
1. Mining and logging: + 31,800 jobs (15.9 percent).
2. Construction: +24,500 jobs (4.3 percent).
2. Professional and business services: +54,200 jobs (4.3 percent).
4. Education and health services: +49,600 jobs (3.6 percent).
5. Leisure and hospitality: +30,400 jobs (3.0 percent).
6. Trade: +41,100 jobs (2.5 percent).
6. Other services: +9,100 jobs (2.5 percent).
8. Transportation, warehousing, utilities: +9,200 jobs (2.2 percent).
9. Manufacturing: +11,400 (1.4 percent).
10. Financial activities: +2,000 jobs (0.3 percent).
11. Government: 2,300 jobs (0.1 percent).
12. Information: -11,600 jobs (-5.9 percent).

Texas Metropolitan Areas Ranked by Employment Growth Rate,
April 2010 to April 2011 (in Percent)
1. Odessa 4.5
2. Midland 4.0
3. Dallas-Plano-Irving 3.1
3. Beaumont-Port Arthur 3.1
5. Amarillo 3.0
6. Killeen-Temple-Fort Hood 2.6
Texas 2.5
7. Fort Worth-Arlington 2.4
8. College Station-Bryan 2.3
9. El Paso 2.1
10. Houston-Sugar Land-Baytown 2.0
11. Austin-Round Rock-San Marcos 1.8
11. Corpus Christi 1.8
13. Longview 1.7
14. McAllen-Edinburg-Mission 1.5
15. Victoria 1.4
15. Tyler 1.4
17. Brownsville-Harlingen 1.0
18. San Antonio-New Braunfels 0.9
18. Waco 0.9
20. Laredo 0.5
20. San Angelo 0.5
22. Wichita Falls 0.3
23. Sherman-Denison 0.2
23. Texarkana 0.2
23. Lubbock 0.2
26. Abilene -2.5