Texas job growth increases in June

Source: Xinhua| 2017-07-22 06:27:07|Editor: yan
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HOUSTON, July 21 (Xinhua) -- Texas employers added more than 40,000 jobs in June, speeding a slow recovery from the oil downturn as drillers continue to hire rapidly to bring new production online, local newspaper Houston Chronicle reported Friday.

Increased job opportunities bring Texas to an annualized growth rate of 2.7 percent, up from 2.4 percent a month before, said the report. The unemployment rate fell to 4.6 percent in June from 4.8 percent in May.

Oil and gas as well as manufacturing led the state's growth, after a strong month in May, accounting for nearly a quarter of all positions added. Oil and gas jobs are now up 10.3 percent from where they were at this time last year.

The job growth was the fastest in the second quarter of 2017 in Texas since the end of 2014. The Dallas Federal Reserve boosted its employment forecast to 2.8 percent for the year 2017. Employees are working more hours, and the manufacturing sector has been bolstered by a decline in the value of the U.S. dollar, which has made it easier to export goods.