AUSTIN ⎯ The Texas economy saw additional positive employment growth in May 2019, with 19,600 seasonally adjusted nonfarm positions added over the month. The Texas economy’s seasonally adjusted unemployment rate in May 2019 set a new historic record low rate of 3.5 percent breaking the previously held low rate of 3.7 percent last held in April 2019. This new record low 3.5 percent unemployment rate is currently the lowest it has ever been since series tracking began in 1976.
“This month’s record low unemployment rate of 3.5% highlights the competitive strength of our Texas economy and is a testament to the hard work of our Texas employers and skilled workforce,” said TWC Chair and Commissioner Representing Employers Ruth R. Hughs. “Our economy is thriving across multiple industries, attracting new companies every day, showing that Texas is the best state in the nation to do business.”
Private sector employers added 277,000 jobs over the year. Private annual employment growth was at 2.6 percent in May and has held above 2.0 percent since October 2017.
“Today I am especially proud to be a Texan. Our historically low unemployment rate is excellent news for Texas workers,” said TWC Commissioner Representing Labor Julian Alvarez. “As more Texans find stable employment they are able to invest in their communities and future generations of Texas workers.”
Professional and Business Services led all major industries over the month, adding 8,100 jobs. Education and Health Services added 4,500 over the month while Construction added 3,300 jobs.
The Midland Metropolitan Statistical Area (MSA) recorded April’s lowest unemployment rate among Texas MSAs with a non-seasonally adjusted rate of 1.7 percent, followed by the Amarillo and Odessa MSAs which recorded at 2.1 for the second lowest rate.
Audio downloads with comments from Commissioner Alvarez on the latest labor market data are available on the TWC webpage for recent press releases. Employment estimates released by TWC are produced in cooperation with the U.S. Department of Labor’s Bureau of Labor Statistics. All estimates are subject to revision. To access this and more employment data, visit TexasLMI.com.
The Texas Labor Market & Career Information Data for June is scheduled to be released on Friday, July 19, 2019, at 9:00 a.m. (CDT).
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