Business graph unemployment and inflation in newspapers
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Seasonal factors continued to affect Midland's labor market in June.
The Texas Workforce Commission said Friday the unemployment rate in its Midland metropolitan statistical area
(MSA) — which includes Midland and Martin counties - jumped to 2.9% from 2.4% in May. The rate is also above the 2.6% reported last June. Odessa saw its unemployment rate jump to 4% from 3.2% in May.
Midland continues to report the lowest rate statewide, followed by Amarillo at 3.4%, College Station-Bryan at 3.7% and Austin-Round Rock at 3.8%.
Willie Taylor, chief executive officer of the commission's Workforce Solutions Permian Basin, which oversees 17 West Texas counties, noted that the jump was largely fueled by school workers filing unemployment while school was out. All of the commission's 26 MSAs reported significant increases from May to June.
"Everything looks great," he told the Reporter-Telegram by telephone. "Our region is doing real well."
He pointed to Midland's civilian labor force, which rose by over 1,000 to 116,863 from 115,742 in May and from 114,222 last June.
"We have such growth — construction, oil and gas,
healthcare, transportation, all at a record pace," he said. He said they are attracted particularly by the high wages paid by the Mining, Logging and Construction sector, which includes oil and gas. That sector paid over $1.4 billion in wages in the fourth quarter of 2023, he noted.
And he forecast more growth, including in construction when
Midland and Odessa begin the work funded by the two bonds passed last November. Taylor also expects significant growth in the Manufacturing sector, especially amid efforts to develop a commercial aerospace economy at Midland International Air and Space Port. "That could be a game-changer," he said.
Taylor said he continues to tell people that if they want to increase their wage earning capabilities, they
need to get training.
"We also continue to educate our young people about our target occupation list — information technology, law enforcement, education, welders. There are a lot of great jobs out there," he said. "If you want to work, there are opportunities.
While Midland's civilian labor force added over
1,100 people, the number of employed rose by over 500 to 113,460 from 112,926 in May and from 111,268 last June. The number of unemployed Midlanders also rose, to 3,403 from 2,816 in May and 2,954 last June.
Midland added 500 total nonfarm jobs from May to June for a job count of 122,200. The Mining, Logging and Construction sector
dominated, adding 600 new jobs during the month. Leisure and Hospitality was the other industrial sector to see gains, adding 100 jobs. The Trade, Transportation and Utilities sector and the Government sector each shed 100 jobs.
For the 12 months from June 2023 to June 2024, Midland added 2000 jobs for a growth rate of 1.7%. The Government sector led with 800 new jobs, followed by the Private Education
and Health Services adding 700 jobs. Trade, Transportation and Utilities gained 500 jobs. Financial Activities saw 400 new jobs and the Leisure and Hospitality sector 200 new jobs. Manufacturing grew by 100 jobs. Mining, Logging and Construction lost the most jobs over the year, 400 jobs. The Information sector lost 200 jobs and Professional and Business Services 100 jobs.
Statewide, unemployment was at
4% as the state saw a record high civilian labor force, marking the sixth consecutive month of expansion. Texas added 49,100 people from May to June to bring the state's seasonally adjusted civilian labor force to a record 15,311,500. Total nonfarm employment fell by 1,200 jobs to 14,188,800 from 14,190,000. But the nonfarm job count has grown by 267,400 positions since June 2023 for a 1.9% annual growth rate.
While Midland saw the lowest unemployment, the highest was in McAllen-Edinburg Mission at 7%.
By the Numbers
Midland Unemployment
January 2024 2.6 percent January 2023 2.8 percent
February 2024 2.9
percent February 2023 2.9 percent
March 2024 2.6 percent March 2023 2.5 percent
April 2024 2.2 percent April 2023 2.2 percent
May 2024 2.4 percent May 2023 2.5 percent
June 2024 2.9 percent June 2023 2.6 percent
Preliminary numbers for June with May numbers in parentheses:
Midland 2.9 (2.4) Amarillo 3.4 (2.8) College Station-Bryan 3.7 (3.0) Austin-Round Rock 3.8 (3.2) San Angelo 3.9 (3.3) Abilene 4.0
(3.3) Odessa 4.0 (3.2) Lubbock 4.1 (3.2) San Antonio-New Braunfels 4.2 (3.5) Sherman-Denison 4.2 (3.6) Tyler 4.2 (3.5) Dallas-Plano-Irving 4.3 (3.6) Fort Worth-Arlington 4.3 (3.6) Waco 4.3 (3.5) Texarkana 4.5 (3.9) Wichita Falls 4.6 (3.6) Victoria 4.7 (3.8) Houston-The Woodlands-Sugar Land 4.8 (4.0) Laredo 4.8 (3.9) El Paso 4.9 (4.1) Longview 4.9 (4.1) Corpus Christi 5.0 (4.2) Killeen-Temple 5.1 (4.2) Brownsville-Harlingen 6.2
(5.1) Beaumont-Port Arthur 6.9 (5.5) McAllen-Edinburg-Mission 7.0 (5.7)
