November 18, 2022
Beacon Employment Report | Texas
Presented by Beacon Economics
Copyright © Beacon Economics LLC
Leisure and Hospitality added more jobs in October than any other sector in the State’s economy, boosting payrolls by 11,600, a 0.8% increase month-over-month. In other words, Leisure and Hospitality accounted for nearly one-quarter of the net jobs added during the month.
Administrative and Support was the next best performing sector in the state, adding 9,500 jobs, a sizable month-over-month increase of 1.1%. Administrative and Support payrolls are now 9.3% above their pre-pandemic peak.
Professional, Scientific, and Technical Services also enjoyed notable gains, adding 8,800 new jobs during the month, a 0.9% increase over September. Over the last twelve months, this sector has added more than 55,300 new jobs, an increase of 6.0% on a year-over-year basis.
Only two of the state’s major industries saw job declines during the month: Real Estate and Rental Leasing, and Educational Services. Together, these industries shed 3,900 jobs during the month. However, over the past year, payrolls have increased in Real Estate and Rental Leasing by 17.9% and by 9.6% in Educational Services.
Compared to one year ago, Leisure and Hospitality, Information, Education, Real Estate and Rental Leasing, and Mining and Logging have all posted double-digit increases in payrolls. Among Texas’s major industries, only Mining and Logging has fewer payrolls compared to pre-pandemic February 2020 levels.