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Houston unemployment rate dips as Texas economy shows signs of stress
Houston unemployment rate dips as Texas economy shows
signs of stress
The Houston area unemployment rate dipped slightly to 4.5 percent in November, the Texas
Workforce Commission reported Friday. The rate was 4.7 percent in October.
The jobless rate is not seasonally adjusted for Houston. However, it is adjusted state-wide for typical
seasonal factors such as school schedules and major holidays that affect hiring and firing patterns.
In Texas, the unemployment rate was 4.9 percent in November, down from 5.1 percent in October.
In another economic measure, however, the Texas economy is showing signs of signs of stress as oil
prices have fallen sharply.
The commission measures 11 key sectors and between October and November, Texas lost jobs in
four of them. The biggest loss - 2,500 jobs - came from trade, transportation and utilities. But the
second biggest job loss came from oil and gas exploration and production.
After growing at a robust pace of 10.2 percent over the past 12 months - and putting on 30,100 new
jobs over that time - oil and gas exploration and production lost 2,300 jobs between October and
November, the commission reported.
There was also a loss of 700 jobs state-wide in finance along with a 700 job loss in other services.