Friday 17 August 2012

Texas unemployment rate rises to 7.2 percent

AUSTIN, Texas (AP) ? Unemployment in Texas rose for the second consecutive month to 7.2 percent in July despite continued job growth, according to state jobless data released Friday. Texas Workforce Commission figures show that the state added 17,800 nonfarm jobs in July. [...] that wasn't enough to keep up with rising population, causing the jobless rate to tick up from 7 percent in June. Despite back-to-back months of rising unemployment in Texas, state workforce officials touted July marking two straight years of monthly job gains. Unemployment rates are adjusted for seasonal trends in hiring and firing, which most economists believe give a more accurate picture of the job market. Without the seasonal adjustment, the jobless rate in Texas would have been at 7.5 percent in June. A new oil boom in West Texas continues to give Midland the lowest unemployment rate in the state at 4.2 percent.

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