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TEXAS ADDS 133,100 JOBS IN LAST 12 MONTHS
COLLEGE STATION (Real Estate Center) – Texas' economy gained 133,100 jobs from August 2009 to August 2010, an annual growth rate of 1.3 percent.
During the same period, the U.S. economy added 278,000 jobs, an annual growth rate of 0.2 percent. The state's private sector posted an annual employment growth rate of 1.4 compared with 0.3 percent for the United States.
The state’s seasonally adjusted unemployment rate rose from 8 percent in August 2009 to 8.3 percent in August 2010, while the nation’s rate in August decreased from 9.7 to 9.6 percent.
All Texas industries except the trade, construction and information industries had more jobs in August 2010 than in August last year.
Twenty-four Texas metro areas had positive employment growth rates for the year ending Aug. 31, up from 19 for the period from July 2009 to July 2010. Sherman-Denison ranked first in job creation, followed by San Angelo, Austin-Round Rock-San Marcos, Odessa and Tyler.
The state’s actual unemployment rate in August 2010 was 8.4 percent. Midland had the lowest unemployment rate followed by Amarillo, Lubbock, San Angelo and Abilene.
For the complete set of August data, see the Monthly Review of the Texas Economy — September 2010 by Real Estate Center Research Economist Dr. Ali Anari and Chief Economist Dr. Mark G. Dotzour
Money Magazine has named Fort Bend County the No. 5 fastest growing U.S. county in terms of job growth.
The county’s ranking is up from No. 6 last year.
Fort Bend County, which includes parts of Houston, Missouri City and Sugar Land among its towns, saw 55.7 percent job growth from 2000 to 2009.
According to Money, Fort Bend County “takes advantage of all things Houston.”
The county’s public school districts combined account for over 14,000 jobs.
Fort Bend also benefits from Houston’s oil industry. Engineering and energy firms like Fluor Corp. (NYSE: FLR) and Schlumberger (NYSE: SLB) support the refineries. The county is also the home of micro-electronics giant Texas Instruments (NYSE: TXN).
Health care is another up-and-coming sector. Memorial Hermann Healthcare System and St. Luke’s Episcopal Hospital opened new facilities in the county in 2009.
Also, Missouri City was named one of the nation's best places to live by the magazine.
With a population of 75,000, the city ranked No. 21 in the magazine's list of the best places in America.
The magazine based its rankings of the nation's small cities (with a population of 50,000 to 300,000) on the "optimal combo of job opportunities, fiscal strength, top-notch schools, low crime, good health care, lots to do, and many other factors that help make a town great for raising a family."
Read more: Money magazine ranks Fort Bend County No. 5 for job growth - Houston Business Journal