Recession Watch: Not In Texas, Jobless Rate Hits Record Low, Even Construction Sector is Booming
DALLAS--The Texas jobless rate dropped to 4.1% in February – a low not seen since the mid-1970s, the Texas Workforce Commission reported Thursday (see chart above).
"Texas has once again reached a prominent benchmark – a more than 30-year record low for unemployment," newly appointed Texas Workforce Commission Chairman Tom Pauken said. "Our falling unemployment, coupled with this month’s significant job gains, indicates the sustained health and vitality of the Texas economy."
Construction continued to add jobs, with 1,900 new positions in February for an annual job growth rate of 4.3%.