January 2011 Review of The Texas Economy – an Excerpt from Texas A&M

Do You Keep on Top of Texas Job Growth Numbers?

Even if you don’t, the folks at the Texas A&M Real Estate Center do, and they publish a monthly report called the “Monthly Review of the Texas Economy” that summarizes the changes in the employment numbers over time.

A quick summary of some Texas job growth numbers that caught our eye, for December 2009 to December 2010:

“The Texas economy gained 231,700 jobs from December 2009 to December 2010, an annual growth rate of 2.3 percent”

  • Of the 12 industries tracked, the employment growth rate increased the most for Mining and Logging (14.9%, or 30,000 jobs).
  • The second biggest employment growth was in the Construction industry with an increase of 5.8%, which translates into 32,300 jobs.
  • In third place, for growth rate, but first place for hard numbers, was Professional and Business Services with 5.3% and 64,900 jobs gained.
  • Top Employment Shares in Texas (for Industry and Government), according to the same report is Government Sector (17.7%), Trade (15.8%) and Education and Health Services (13.4).

    Unemployment in the Austin – Round Rock – San Marcos corridor was 6.8% in December 2010.

    We hope this translates into an uptick in the local real estate market in the coming months!

    A Metal State of Texas piece of art in Taylor Texas

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    Independent Real Estate Appraiser in Austin, Texas: Travis, Williamson, Hays, Bastrop and Caldwell Counties