March 22, 2024
Beacon Employment Report | Texas
Presented by Beacon Economics
Copyright © Beacon Economics LLC
INDUSTRY OVERVIEW
- Health Care and Social Assistance added more jobs in February than any other sector in the Texas economy, boosting payrolls by 8,600, a 0.5% increase month-over-month.
- Close behind was Professional, Scientific, and Technical Services, which added 8,500 new jobs during the month of February, a month-over-month increase of 0.8%.
- Construction also enjoyed notable gains, adding 7,800 new jobs during the month, a 0.9% increase. This was the largest increase (in percentage terms) among Texas’s major industries.
- The Other Services sector was the fastest growing on a year-over-year basis, boosting payrolls by 4.6%.
- Three of Texas’s major industries shed jobs during the month. Collectively, these industries lost 4,500 jobs in February, but year-over-year payrolls were still up in all three. The bulk of the job losses occurred in Retail Trade (-2,500) and Transportation, Warehousing, and Utilities (-1,800). �
- Information, Administrative and Support, and Mining and Logging have underperformed over the last year and are the only three industries that have lost jobs on an annual basis, however all three experienced an increase in payrolls month-over-month in February.
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