According to a recent report from the Real Estate Center at Texas A&M University, the state continues to lead the nation in terms of job creation, more than doubling the country's pace during the last year.
The report explained that the state added 271,400 nonfarms jobs between August 2010 and 2011, which represents an annual growth rate of 2.6 percent, well ahead of the nation's average of 1 percent. In fact, the number of nonfarm jobs added in Texas accounted for 21.1 percent of the country's total during this period.
According to the report, the state's private sector increased by 284,200 jobs, representing a 3.3 percent incline, compared to the country's 1.6 percent jump. Unemployment in the state reached a seasonally adjusted rate of 8.5 percent during August 2011, up from 8.3 percent the year before. Nationally, the jobless rate was down during August, falling from 9.5 percent to 9.1 percent.
Outside of the information industry and the state's government sector, every other industry in Texas added jobs during the previous year, with the mining and logging sector creating the most jobs.
With more jobs available, a greater number of consumers may now be interested in purchasing properties in the Dallas and Houston real estate sectors.
Courtesy of 2M Realty News