The Texas jobless rate hit a 40-year record low in October with unemployment dropping to 3.9 percent, outpacing the monthly national average and signaling the state rebounded since Hurricane Harvey.
The Texas Workforce Commission (TWC) reported Friday that the Lone Star State led the nation adding 316,100 jobs over the past year including 71,500 last month. Texas joblessness for October came in at 3.9 percent, below the national monthly unemployment rate of 4.1 percent. In 2017, the state’s unemployment rate peaked at 5 percent in April, dropping each month thereafter. In September, it fell to 4 percent.
“By adding an impressive 71,500 jobs over the past month and 316,100 jobs over the year, Texas employers have once again demonstrated their unmatched innovation and ability to achieve success in our country’s premier place to do business,” said TWC Chairman Andres Alcantar in a prepared statement. “This economy provides valuable opportunities for the highly skilled Texas workforce to also achieve success.”
In October, the annual employment growth for Texas was 2.6 percent, marking 90 consecutive months of annual growth, according to TWC. They based their figures on statistics from the U.S. Department of Labor.
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