Texas adds 72,800 jobs in July as economy keeps expanding

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Texas adds 72,800 jobs in July as economy keeps expanding
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While the monthly gains were the second highest this year, they were lower than the previous month.

as the labor market continued to expand and the state’s unemployment rate ticked down slightly to 4%, the Texas Workforce Commission said Friday.

All but one major job category reported more hiring last month, and mining and logging again led the way. In Texas, that segment is primarily the oil and gas business, which has been booming because of strong demand for energy — and high prices.on an annualized basis in July, eclipsing the U.S. rate of 8.5% for the same period. The biggest price increases were in electricity, gasoline and other energy services, which all soared more than 40% year over year.

“Some of our fastest-growing sectors are ones that are still trying to catch up to pre-pandemic employment,” Orrenius said. Leisure and hospitality, which includes some of the industries hardest hit by the pandemic, added 10,400 jobs last month. In the past year, employment in the segment has grown 10.4%. Leisure and hospitality recovered its COVID-19 job losses in May and now has 42,300 more employees than before the pandemic.

Builders are still having trouble with supply constraints, he said. They regularly complain about the difficulty of getting windows, faucets, water heaters, heating and air conditioning systems — and lumber.

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