TEXAS BOUND FOR FAST RECOVERY?
Texas’ four major metros are in the top ten fastest-recovering cities nationwide, according to Forbes.com magazine.
Forbes ranked San Antonio the second fastest recovering city in the country, Austin the third, Dallas–Fort Worth–Arlington the sixth and Houston–Sugar Land–Baytown the eighth.
The magazine attributed their relatively quick recovery to San Antonio’s and Austin’s high number of municipal jobs, Dallas’ thriving technology industry and Houston’s energy sector, as well as the state housing market’s ability to remain stable while other states’ markets crashed.
“Texas didn’t have as big of a boom,” said Dr. Jim Gaines, research economist at the Real Estate Center at Texas A&M University. “So we’re not having anywhere near the kind of bust.”
El Paso and McAllen-Edinburg-Mission were also placed within the 100 fastest-growing MSAs, ranking 43rd and 48th, respectively.
Forbes ranked the country’s 100 largest MSAs according to each area’s September unemployment rate and foreclosures, gross metropolitan product, home prices and sales rates.
Read MoreTWO TEXAS CITIES TOPS FOR CORPORATE GROWTH
Houston landed the top spot on Site Selection magazine’s list of top metro rankings for corporate location and expansion activity. Dallas–Fort Worth–Arlington was right behind at number two.
According to the magazine, Houston owes its success to its domination in the energy sector and its ability to land huge technology deals. The city scored 179 corporate real estate deals in 2008, according to Site Selection.
Dallas–Fort Worth–Arlington finished 2008 with 156 projects. Coming in third was Chicago with 138.
Source: Houston Business Journal
Read MoreTEXAS TOPS IN JOB GROWTH
Texas was top in job growth last year, according to a recent analysis by bizjournals.com.
Five Texas cities ranked among the top ten, with three securing the top three spots.
Houston added 57,300 jobs in 2008, giving it the best year of any U.S. market. Dallas–Fort Worth was next with 43,300 additional jobs, then San Antonio, which was up by 14,900 jobs.
Austin ranked fifth with 9,600 jobs added, and El Paso’s 5,300 additional jobs landed the city at ninth.
Bizjournals.com examines markets that have at least 250,000 nonfarm jobs and compares employment figures for the final month of the past two years. Seventy-two of the 88 markets studied suffered declines in employment in 2008.
Source: St. Paul Business Journal
Read MoreTEXAS OUTPERFORMS NATION IN NONFARM EMPLOYMENT
Texas relentlessly added more jobs in October despite more job losses for the nation. Texas’ nonfarm employment rose 2.2 percent from October 2007 to October 2008 compared with a decrease of 0.9 percent for the United States.
The state’s seasonally adjusted unemployment rate rose from 4.3 percent in October 2007 to 5.6 percent in October 2008. Over the same period, the nation’s seasonally adjusted unemployment rate rose from 4.8 percent to 6.5 percent.
Despite recent oil price decreases, the state’s mining industry continued to gain more jobs and ranked first in job creation, followed by the professional and business services, leisure and hospitality industry, education and health services industry, and construction industry.
All Texas metros had positive employment growth rates from October 2007 to October 2008. McAllen-Edinburg-Mission ranked first in job creation followed by Laredo, College Station–Bryan, Midland and Longview.
The state’s actual unemployment rate in October 2008 was 5.4 percent. Petroplexes Midland and Odessa ranked first and second in lowest unemployment rate followed by Amarillo, Lubbock, Abilene and College Station–Bryan.
Source: Real Estate Center
Read MoreTEXAS EMPLOYMENT STILL RISING
Texas’ economy continues to gain jobs while the nation’s is still losing them. The state’s nonfarm employment rose 2.3 percent from September 2007 to September 2008. Over the same period, U.S. nonfarm employment decreased by 0.4 percent.
The seasonally adjusted unemployment rate for Texas rose from 4.3 percent in September 2007 to 5.1 percent in September 2008. The U.S. rate rose from 4.7 percent to 6.1 percent. The state’s mining industry, still helped by higher oil prices, ranked first in job creation, followed by professional and business services, leisure and hospitality, construction and education and health services.
All Texas metros experienced positive employment growth rates for the year ending September 2008. Laredo ranked first in job creation followed by McAllen-Edinburg-Mission, Odessa, College Station–Bryan, Longview and El Paso. The state’s actual unemployment rate in September 2008 was 5.2 percent. Petroplexes Midland and Odessa ranked first and second in lowest unemployment rate followed by Amarillo, Lubbock, Abilene and College Station.
Source: Real Estate Center
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