Dallas Fed: Texas Adds 30,700 Jobs in August; Unemployment Rates Rise in Eight of Nine Major Metro Areas
For immediate release: September 19, 2014
DALLAS—Texas added 30,700 jobs in August, 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 265,900 jobs. The state added a revised 39,600 jobs in July.
In 2014, jobs in Texas have grown at an annualized rate of 3.5 percent. Jobs in Texas grew at a rate of 2.7 percent in 2013.
Unemployment rates rose in eight of nine major Texas metro areas in August, according to seasonally adjusted numbers from the Dallas Fed. The largest rise in the unemployment rate was seen in McAllen-Edinburg-Mission, from 9.3 percent in July to 9.5 percent in August. Laredo’s unemployment rate held steady at 5.9 percent in August.
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 also are seasonally adjusted by the Dallas Fed.
Next Release Date: October 17
Federal Reserve Bank of Dallas