Dallas Fed: Texas Adds 42,000 Jobs in May; Unemployment Rates Fall in Two Major Metro Areas
For immediate release: June 20, 2014
DALLAS—Texas added 42,000 jobs in May, according to seasonally adjusted and benchmarked payroll employment numbers released today by the Federal Reserve Bank of Dallas.
Year to date, the state has added 171,470 jobs. The state added 54,100 jobs in April.
In 2014, jobs in Texas have grown at an annualized rate of 3.7 percent. Jobs in Texas grew at a rate of 2.6 percent in 2013.
Unemployment rates fell in two major Texas metro areas in May, according to seasonally adjusted numbers from the Dallas Fed. Declines in unemployment rates were seen in the Brownsville-Harlingen (8.7 percent in April to 8.5 percent in May) and in the McAllen-Edinburg-Mission (9.4 percent in April to 9.1 percent in May) metro areas.
The Dallas Fed improves the Bureau of Labor Statistics' (BLS) payroll employment estimates for Texas by incorporating preliminary benchmarks into the data in a more timely manner and by using a two-step seasonal adjustment technique. Texas metropolitan area unemployment rates from the BLS are also seasonally adjusted by the Dallas Fed.
Next Release Date: July 18
Federal Reserve Bank of Dallas
Phone: (214) 922-5307