Here’s the state where everything’s bigger — Including the job market
- Texas appears to be leading the country in terms of employment growth.
- The state’s capital, Austin, had a big year-over-year increase in hiring in 2018.
- LinkedIn’s January 2019 workforce report assessed that Texas drew in many workers from both coasts.
Everything’s bigger in Texas, including the job market. And that’s especially true for the Lone Star State’s weird capital, Austin.
LinkedIn’s January 2019 workforce report indicated that Austin drew in many workers from both coasts and had the biggest year-over-year increase in hiring rate at 15.8 percent higher. Many of the workers who came to Austin were coming from either New York or the San Francisco Bay Area, two major coastal powerhouses of industry. The report attributes these jobs moving to Texas to the state’s strong economic growth.
Texas Unemployment Rate Falls
Texas hit a record for low unemployment in October and November 2018. Those months saw the state’s unemployment rate dip to 3.7 percent. The rate had been slowly decreasing since mid-2018. As of December 2018, the national unemployment rate is 3.9 percent.
According to the Houston Chronicle, some of the highest-paying jobs in Texas include:
- Tax manager
- Systems architect
- Strategy manager
- Data architect
- Plant manager
- Engineering manager
- Software development manager
Nearly one-tenth of all Fortune 500 companies are located in Texas, which helps to contextualize its strong economy. Texas has also been featured in multiple lists for states with the best job opportunities, including that of Business Insider and CNBC.
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Jobs Added in Texas in Recent Years
Along with the Texas hiring rate increase, the state has set a few records for its employment in recent years, not the least of which was the sheer number of jobs added. By the time 2018 rolled around, Texas had added more than 306,000 jobs to its workforce over the year, according to the Texas Workforce Commission.
“Private sector employers had a successful year in Texas, adding almost 270,000 jobs since December 2016,” said Ruth R. Hughs, TWC commissioner representing employers. “This growth is a great illustration of the value and opportunity that employers bring to the Texas economy.”
Click through to find out what five experts think will happen to the U.S. economy in 2019.