The Texas economy is still cooling but we continue to create jobs in Texas.  From December 2007- December 2008 the U.S. economy saw 2.8 million people loose their jobs, while Texas gained just over 150,000 jobs over that same time period. 

The state’s seasonally adjusted unemployment rate rose from 4.2 percent in December 2007 to 6 percent in December 2008.  The U.S. seasonally adjusted unemployment rate rose from 4.9 percent to 7.2 percent over the same time period.

The recent drop in oil prices have started to adversely affect the Texas oil and natural gas industry’s ability to create jobs.  The industry’s employment increased from 3.7 percent from December 2007-December 2008.  Although from November 2007-November 2008 this industry’s employment increased 7.1 percent.  Even with the drop this industry ranked first among Texas industried in employment growth rate.

The professional and business services (real estate brokers and agents) and the leisure and hospitality industry came in second among job growth.