More positive news on the economy. I can't wait for the libs to come in and tell us how bad things are! Nov. 16, 2007, 10:56AM Texas unemployment rate ties 31-year low Associated Press The statewide unemployment rate dipped to 4.1 percent in October, tying a 31-year low, as employers hired new workers in business services, leisure, education and health care, the Texas Workforce Commission said today. The jobless rate had been 4.3 percent in September. October marked the third month this year in which the statewide figure dropped to 4.1 percent. Seasonally adjusted nonfarm employment rose by 24,200 from September. The statewide numbers were adjusted for seasonal trends in hiring and firing, which most economists believe gives a better picture of the job market. However, initial claims for unemployment benefits jumped 19 percent from September, to 58,573 in October. The nationwide unemployment rate for October was 4.7 percent, unchanged from September. Diane Rath, chairwoman of the Workforce Commission, said the lower Texas rate showed that employers in the state were expanding at a "tremendous pace." Midland continued to have the lowest unemployment rate in the state, at 2.7 percent, with Amarillo, Lubbock and Odessa next at 3.1 percent. The McAllen-Edinburg-Mission area, El Paso and Brownsville-Harlingen all had rates over 5 percent. Local figures were not seasonally adjusted. The Houston-area figure was 3.8 percent. Professional and business services had the biggest increase in October jobs of any sector, at 5,600, the commission said. Education and health services added 3,400 jobs, while leisure and hospitality employers added 3,200. Following are the preliminary October unemployment rates for local areas in Texas, with revised September figures in parentheses. The figures are not seasonally adjusted. The statewide unadjusted jobless rate was 3.9 percent in October. http://www.chron.com/disp/story.mpl/front/5307652.html
The dollar is doing worse than ever. Gas is three bucks . More people might working, but there are working harder for less. This republicans aren't conservative they just keep on spending. As the expand the money supply they are decreasing the value of every dollar.
Because the "US economy" is really a combination of different regions? Texas didn't have a housing boom, and its energy sector is booming right now. You won't find the same numbers with California, Florida, and New York. Michigan's in a recession from their slumping auto industry. Source
LOL you think the dollar is a good proxy for the overall economy? Hilarious. Swing and a miss, amateur
LOL love it - I'm talking about positive news in Texas, and the liberal response is to bring up completely unrelated "bad news" from other places. Hilarious. Leave it to a liberal to cherry pick some unrelated bad news and broadcast it. ...and Invisible Fan...the US GDP grew at an annualized rate of 3.9% in the 3rd quarter. That is robust growth, my friend. another whiff
Does this data reflect all the border jumping Mexicans who are unemployed and draining this state's resources? Just kidding!
Unemployment is just one component. The better question is what jobs are being created. And to say that the Economy is booming because Texas is booming just seems, awkward. Texas is an energy-sector heavy state. I wonder what higher gas prices and oil profits do for a state that is enriched by these?
Your mention of "the Economy" was pretty vague. Texas's growth is good news, but I live in California, and I don't see how that's great to me. So yeah, I assumed your mention of economy was used in the general sense like your general use of libs. And the article makes a great case why regional economies are related and why it's relevant to the discussion: And I don't think regional corrections of the housing market is bad news. Speculation was having a crazy impact on the economy. Hopefully this is a mild hangover.
yeah i mean so what if the dollar sucks and we have a crappy interest rate. im sure china would LOOOOVE to buy our debt to finance your president's deficit.
China buys our debt every day to finance our deficit. It's in their best interest to do so, since they're artificially keeping their currency weak. The US drives demand for their exports - they don't have any interest in pissing off their best customer. Crappy interest rate? You're just babbling nonsense at this point.
This is good news, mostly. And it's surprising all the models for TX unemployment from independent analysts. The sad part is real wages. The strange contexxxt provided is fortunately easy to ignore. It's like I filter that automatically.
http://www.chron.com/disp/story.mpl/chronicle/5307652.html Nov. 16, 2007, 8:03PM Area job growth slows to lowest level since 2005 By L.M. SIXEL 2007 Copyright Houston Chronicle TOOLS Email Get section feed Print Subscribe NOW Comments RESOURCES The slump in the national economy, troubles in the mortgage market and generally weaker conditions are slowing job growth in the Houston area, according to data released today. Houston-area employers added 52,900 jobs between October 2006 and October 2007, a 2.1 percent gain, according to the Texas Workforce Commission. That's less than half of the job growth Houston was experiencing a year ago and it's the lowest since March 2005, when regional employers were putting on jobs at an annual rate of 1.9 percent. "It's a broad-based slowdown," said Joel Wagher, labor market analyst for The WorkSource, which manages employment services, education and training for the Houston area. "We're seeing it in mining, construction, manufacturing, transportation, professional and business services." The local unemployment rate is 3.8 percent for October compared to 4.3 percent in September. The comparable, non-seasonally adjusted jobless rate in Texas for October is 3.9 percent, down from 4.4 percent in September. The statewide rate, seasonally adjusted, dipped to 4.1 percent in October, tying a 31-year low. It's the third time this year the seasonally adjusted rate has fallen to 4.1 percent. lm.sixel@chron.com The Associated Press contributed to this report.
Whoops. Highlighted the wrong part of the article. So do we have historically low inflation due to the fact that we're creating jobs at half the rate we used to?
