Big State, Big Growth – How Much Is Job Growth in Texas?

October 4th, 2018

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Things are bigger in Texas. That’s true about a lot of things, but it is certainly the case with the current job market. The Lone Star State is currently experiencing the best job growth among the biggest states. But what does that really mean? How fast are jobs growing and what is the market like for the average job seeker? Here are some facts about the current job market and how the boom is helping people right here in our own area.

High GDP, low poverty rates.

The Texas GDP has been growing over the last decade, which demonstrates the stability of the economy in the state. There are also lower poverty rates in the city centers around the state, which means employment is up and salaries are generally competitive. Also contributing to the lower poverty rate is the affordability in cities around the state when compared to other large U.S. cities.

Low unemployment rate.

At the height of the recession, in 2010, the U.S. unemployment rate was 9.9 percent while Texas was at 8.25 percent. Since the recovery, unemployment has gone down throughout the U.S., making the national rate at 4.1 percent currently. In Texas, the current unemployment rate is 4 percent. This is low compared to other large population centers.

25 straight months of growth.

Job growth is one of the leading indicators of a strong economy, and the employment industry and economic experts have tracked 25 straight months of growth in the Texas employment arena. This makes the state a great place for business to settle as well as for professionals to find good employment.

Industries affected.

There are a variety of industries in Texas, including several that have recently discovered the state. For example, energy and oil have long been associated with the state, but now the major cities like Houston and Austin are experiencing a tech boom where major technology companies are moving into the area to take advantages of fewer business regulations and more top talent. Banking and tourism also rank high in the state.

The economy overall.

There are so many things that contribute to a strong economy in the state of Texas. The cost of living, for instance, is really playing into the success of businesses within the state. When a professional can live affordably but salaries continue to be competitive, companies can attract professionals to their offices in Texas.

Work With a Top Staffing Agency in Houston TX

Are you looking for your next job in Texas? Contact Meador Staffing, now hiring for jobs in Texas.

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