July 19, 2024
Beacon Employment Report | Texas
Presented by Beacon Economics
Copyright © Beacon Economics LLC
INDUSTRY OVERVIEW
- The largest job losses in June occurred in the Mining and Logging sector, which shed 3,800 positions. Mining and Logging has also seen the largest losses on a year-over-year basis, with payrolls down 11,300.
- Leisure and Hospitality also lost some steam in June, with payrolls declining by 3,400. Not far behind was Real Estate and Rental and Leasing, which declined by 3,200. However, payrolls were up by 2.6% in Leisure and Hospitality and 2.0% in Real Estate and Rental and Leasing compared to one year ago.
- Professional, Scientific, and Technical Services also saw payrolls fall by 1,900 in the latest numbers. Minor job losses also occurred in Wholesale Trade, Finance and Insurance, Other Services, Transportation, Warehousing, and Utilities, and Information, which collectively amounted to a shedding of 1,500 jobs.
- Six of Texas’s major industries enjoyed positive job gains. Construction added more jobs in June than any other sector in the state’s economy, boosting payrolls by 5,000, a 0.6% increase month-over-month. That represents the largest increase amongst Texas’s major industries.
- Behind Construction came the Government sector, which added 3,100 new jobs during the month of June, a month-over-month increase of 0.1%.
- Finally, Manufacturing hiring ticked up in June, with payrolls up 2,500, a month-over-month increase of 0.3%.
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