Texas state has managed to add 16,400 new jobs during the month of August. However, the state’s jobless rate rose for the first time since the start of the pandemic. According to data by Texas Workforce Commission, Texas overall nonfarm job count stands at 13.53 million.
700,000 job addition during last year
The United States nonfarm employers added 315,000 jobs during last month. Moreover, the U.S. job market posted positive job growth for 20th consecutive month. Previously, the U.S. employers shed millions of jobs back in April 2022 when the pandemic struck. Significantly, the addition in jobs during turbulent economic times is a sign of hope for the economy as many businesses are fearing recession in coming months. During last month, Texas also managed to portray positive job growth numbers. Overall, the state employers added more than 700,000 new jobs. “With more than 700,000 jobs added in the past year, opportunities for Texans to succeed continue to grow. From registered apprenticeship to skills development programs, TWC remains committed to offering pathways to meaningful employment for every Texan in the job market.” TWC commissioner Julian Alvarez said in a statement.
Business and professional services led the way
Professional and business services witnessed a major increase in job growth. The sector managed to create 5,200 new jobs. Moreover, the job growth in professional and business services followed the upward trend across the country. The sector added 68,000 jobs nationwide during August. Similarly, education and health services grew by 3,800 jobs within Texas. Moreover, according to data from Texas Workforce Commission, financial services also seen an upward job growth and added 2,800 new jobs.
Jobless rate rose by 0.1%
However, the jobless rate in Texas rose by 0.1% and currently stands as 4.1%. The unemployment rate stood at 4% last month which was record low since the start of pandemic. However, TWC is not considering this increase worrying some and are pleased by the overall job growth numbers. “Private industry jobs are up more than 6% from this time last year, and Texas employers continue to expand their workforces. TWC will continue to support both employers and job seekers with programs aimed at training Texans for high-wage, high-demand careers.” TWC Chairman Bryan Daniel said in a statement.
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