October 17, 2016
Economists with the Real Estate Center at Texas A&M University said Texas’ economic indicators in August were okay. While employment increased in the services sector, manufacturing, and mining and logging employment declined. Texas housing sales did increase – but metro sales were mixed. And while state building permits increased, they did so at a slower rate than in previous years.
In August, the Texas employment growth rate – 1.6% annually – surpassed the U.S. growth rate. The economy generated 10,400 jobs. However, real total private employee hourly earnings fell by 1.7% year-over-year.
On the energy side, the number of operating rigs in Texas continued to climb for the fourth straight month, while oil production maintained recent production levels.
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