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Texas Is a Top State in Which to Do Business

Businesses continue to make Texas their choice for growth and expansion. Jobs in Texas are on an upswing again as the Texas economy shows improvement despite a plunge in the state’s oil and gas industry over the past 12 months that has resulted in job losses. The state unemployment rate was 4.2 percent in September 2015, trailing below the national unemployment rate of 5.1 percent, according to the U.S. Bureau of Labor Statistics. The lower Texas rate has beaten or tied the U.S. average for 105 straight months.

The Texas Workforce Commission’s recent Texas labor market data for September 2015 revealed Texas added jobs in September for the seventh month of job growth in 2015. The state added 26,600 nonfarm jobs in September, bringing the 12-month total to 224,800 positions. “With the Texas economy continuing to generate a steady growth of jobs, our employers and jobseekers have a definite competitive advantage when seeking the many opportunities available in our Lone Star State,” said Andres Alcantar, chairman of the Texas Workforce Commission.

Texas is a top state for businesses and jobs

Top industries in Texas

Low fuel prices accounted for a 9 percent decline in employment in the mining and logging sector for September 2015, compared with last year, and there were 30,000 job losses in the manufacturing sector since September 2014. But jobs in Texas are increasing in other industries, as eight of 11 industry sectors added jobs. Private-sector employment was strong in September, adding 31,200 jobs, according to TWC’s latest labor market report. The trade, transportation and utilities industries expanded by 11,400 positions in September, leading job growth among all industries. The education and health services industries, along with the leisure and hospitality sectors, reported 12-month gains of more than 5 percent in September. Construction, manufacturing, information, financial activities, and professional and business services also experienced job growth in Texas.

Population figures in Texas also show phenomenal growth and highlight geographic areas where current and future jobs might be needed. Dallas-Fort Worth added more new residents than almost anywhere in the U.S., according to the latest population estimates from the Census Bureau. Houston-The Woodlands-Sugar Land grew by 156,371 people from July 1, 2013, to July 1, 2014. Dallas-Fort Worth-Arlington, the fourth-largest metropolitan area in the country and the largest in the southern U.S., added more than 131,000 people in the same period.

Students pursuing a Master of Business Administration (MBA) degree, people considering enrolling in an MBA program or recent MBA graduates looking for a job should be aware of up-to-date employment data and census figures. Knowing the cities and industries with the most job growth in Texas can be crucial information to aid in career planning and decision-making.

Learn more about the UT Tyler online MBA program.


Sources:

http://www.texasworkforce.org

http://www.dshs.state.tx.us/chs/cnws/Hospital-Survey-Reports/

http://www.texaspolicy.com


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