TEXAS ECONOMY (The Woodlands, Spring & Houston) STILL AHEAD OF NATION
COLLEGE STATION (Real Estate Center) - The Texas economy is cooling but continues to create jobs. While the U.S. economy lost more than 2.8 million jobs from December 2007 to December 2008, Texas gained 154,600 jobs over the same period.
The state's seasonally adjusted unemployment rate rose from 4.2 percent in December 2007 to 6 percent in December 2008. By comparison, the U.S. seasonally adjusted unemployment rate rose from 4.9 percent to 7.2 percent during the same period.
Recent decreases in oil prices have begun to adversely affect the Texas oil and natural gas industry's ability to generate jobs. The industry's employment increased 3.7 percent from December 2007 to December 2008, a drop from 7.1 percent for the period November 2007 to November 2008. Even so, the industry ranked first among Texas industries in employment growth rate.
The professional and business services industry and the leisure and hospitality industry posted annual employment growth rates of 3.3 percent from December 2007 to December 2008 and ranked second among Texas industries in job creation.
All Texas metros experienced positive employment growth rates from December 2007 to December 2008. McAllen-Edinburg-Mission ranked first in job creation followed by College Station-Bryan, Houston-Sugar Land-Baytown, and Killeen-Temple-Fort Hood.
The state's actual unemployment rate in December 2008 was 5.7 percent. Midland had the first lowest unemployment rate followed by Amarillo, Lubbock, Odessa and College Station-Bryan.
The complete Texas economic report is available on the Real Estate Center's website.
this article is from RECON (Real Estate Center Online News, Feb 3, 2009)
Pippa MAC - Real Estate Selling Agent and Relocation Specialist with REMAX, The Woodlands and Spring, Texas
Rated number #1 featured Woodlands Realtor on Localism.com and #2 featured on Active Rain.com. For more information about Buying or Selling HOMES in The Woodlands and Spring area go to www.PippaMAC.com.
The Woodlands, Texas is 27 miles North of Houston. I can help you sell your home or find your dream home! Prices range from the mid $100,000's up to millions.
- #1 Best Selling master-planned community in the state of Texas
- 27 miles North of Houston
- 16 miles from George Bush Intercontinental Airport
- Close to I-45 and the Hardy Toll Road
- Cynthia Woods Mitchell Pavillion outdoor amphitheater
- 190 miles of hike and bike trails
- Exemplary public schools and Acclaimed private schools
- Ranked one of the top 10 safest communities in Texas
- Click here to see a video of "The Woodlands"
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Hi Pippa..Great Post on the Economy in Texas, look's like Texas will do well in 2009.The Woodlands is the place to Buy a Home in 2009.
Cheers, thanks for sharing you current state of the market in Texas