November 15, 2024
Beacon Employment Report | Texas
Presented by Beacon Economics
Copyright © Beacon Economics LLC
INDUSTRY OVERVIEW
- The largest job losses occurred in the Administrative and Supportive Services sector, which shed 20,800 positions during October, a month-over-month decline of 2.3%.
- Education and Health Care also experienced moderate losses amounting to a month-over-month decline of 3,400 jobs, with the Health Care segment accounting for nearly 74% of the losses.
- Construction was another sector that saw moderate job losses, with payrolls declining by 3,000 compared to September, a month-over-month decrease of 0.3%.
- Despite the losses, Construction remains the fastest growing industry in the state, with payrolls up 4.7% compared to last year.
- Leisure and Hospitality was the state’s top performer, adding 4,900 jobs in October. The uptick was rooted in increases in the Accommodation and Food Services sector, which added 3,200 new jobs.
- Payrolls in Finance and Insurance increased 0.5% over September levels, an increase of 3,600 new jobs.
- Real Estate and Rental and Leasing also enjoyed a solid month, with payrolls increasing 1.0% month-over-month and 3.7% year over year.
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