Monday, May 19, 2008

Texas Jobless Rate in April At Record Low of 4.1%

AUSTIN — The April statewide seasonally adjusted unemployment rate fell to 4.1%, down from 4.3% in March and 4.4% in April 2007, once again matching the record low set in February (see chart above, click to enlarge). The 4.1% April unemployment rate in Texas remains far below the U.S. unemployment rate of 5.0%. Seasonally adjusted nonagricultural employment in Texas grew by 15,400 jobs in April.

“Texas continues to outpace national trends with its record low unemployment rate,” said Texas Workforce Commission (TWC) Chairman Tom Pauken. “Texas employers now have added 262,000 jobs in the past 12 months.”

Note: Adding 262,000 jobs in Texas over the last 12 months is almost like adding an entire new state the size of Wyoming (total state employment of 283,000) to the Texas economy. Even the construction sector in Texas is booming - 3,000 jobs were added in April, for a gain of 23,200 jobs over the year.


At 5/19/2008 3:40 PM, Blogger Matt said...

Prof Perry:
I was introduced to your blog by one of your students. I enjoy both your commentary and reader's posts as enriching and stimulating.

In my travels across the internet, however, I've encountered many people who are skeptical of the veracity of the CPI, inflation, the jobless numbers, and some of the other figures you post on your blog. I was wondering if you could comment on this harpers excerpt which outlines some of our economic figures are mis-applied.

I've read the comments in your Cultural rut of pessimism post, and I strive not to buy into 'the product' of pessimism the 24 hour news cycle has brought us, but I am finding it increasingly difficult to look at posted inflation and employment numbers and believe they mirror reality in any way. Is there anything you could offer to assuage a skeptic like myself?


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