Industry Growth in Texas Suggests Economy is Strengthening

The unemployment rate has been an issue of concern for several years now.  Some U.S. cities have recovered from the recession better than others and the current unemployment rate varies by state, with the national average being around 8.3 percent.

According to Bill Bowen, Texas is making progress towards lowering the unemployment rate.  In December, the unemployment rate dropped to 7.3 percent—the lowest rate since April 2009.  Industries that have added the most jobs this year include the oil industry, business and professional services, hospitality, trade, transportation and utilities.

For the year, Texas has added 332,600 jobs with 73,800 jobs added in January alone.  These numbers look promising as more unemployed workers are entering the job market.  If Texas is able to continue to create new jobs at this rate, Texas is on its way to a much stronger economy.

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