(McAllen, TX) According to Real Estate Center, an online research think tank, based in College Station, Texas’ pace of job creation exceeded the nation’s in November 2016. Dallas-Plano-Irving and McAllen Edinburg-Mission ranked first in job creation followed by Brownsville-Harlingen, San Angelo and College Station-Bryan.
“McAllen continues to be the leading economic driving force for the Rio Grande Valley and thanks to the work of the Commission and City leaders, our community continues to see improvement in job creation, which benefits our residents,” said City of McAllen Mayor Jim Darling.
The site reported that the state gained 212,600 nonagricultural jobs from November 2015 to November 2016, an annual growth rate of 1.8 percent, higher than that nation’s employment growth rate of 1.6 percent. The nongovernment sector added 173,100 jobs, an annual growth rate of 1.7 percent, the same as for the nation’s private sector.
In McAllen, major customer care centers are opening or are already open and growing their business with several hundred employees over the next few years.
Thanks to an overall increase in construction valuation in the City of McAllen of $155.5 million over the same time last year – a total of $330-plus million was posted for the past fiscal year – city leaders expect to see an increase in construction employment and, once those jobs are complete, in the retail and service industry.
According to the Real Estate Center’s latest Monthly Review of the Texas Economy, Texas’ seasonally adjusted unemployment rate in November was 4.6 percent, the same rate as a year ago. The nation’s rate decreased from 5 to 4.6 percent.
The site also highlighted that all Texas industries, except mining and logging and manufacturing, had more jobs. Education and health services ranked first in job creation followed by leisure and hospitality, financial activities, trade and the government sector.
The City of McAllen posted the lowest unemployment rate for the month of November at 4.4%, dropping from 5.2% in September.
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