February 17, 2017
Discussions about the Texas economy focus mainly on the top five metros in the state. But the state’s smaller metropolitan areas are as important to state growth and, according to economist Ray Perryman, many of them are doing quite well. In fact, Amarillo’s and Lubbock’s unemployment rate of 3.2% is tied with that of the Austin-Round Rock MSA. College Station-Bryan’s rate was 3.4%, Sherman-Denison, 3.6% and others (including Abilene, Midland, Waco and others) have unemployment rates at or below the statewide level.
Perryman is forecasting the fastest rates of job growth during the period 2016-2012 to be in Midland (2.45%) and Odessa (2.42%), with gains occurring in the latter part of the period. He also anticipates that College Station-Bryan will outpace the state, with job expansion at 2.21% during the same period.
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