Lubbock Unemployment Rate Rises Substantially
Lubbock’s unemployment rate has risen considerably.
The unemployment rate for the Hub City in June hit 7.3 percent, a fairly sharp increase from May 2011’s 5.9 percent, and June 2010’s 6.8 percent.
The hardest hit sectors in the Lubbock Metropolitan Statistical Area are the government sector which lost 1,500 jobs, many of which were those working in education, and the farming industry which lost around 1,200 jobs. Other sectors posted employment improvement, leaving the Lubbock MSA with 200 jobs total lost in June. Trade, transportation, and utilities gained 500 jobs in June of this year, and the leisure and hospitality sector posted an increase of 300 jobs.
The lowest unemployment rate in the state continues to be Midland, currently at 5.2 percent. The highest is in the McAllen-Edinburg-Mission area at 13 percent. As for others in the area, Amarillo is at 6.4 percent, Abilene at 7.6 percent, and Odessa at 6.9 percent.
Statewide, Texas total nonfarm employment increased by 32,000 jobs in June, bringing the total jobs added to the state at 220,000 since June 2010. The state seasonally adjusted unemployment rate crept to 8.2 percent in June, up from May’s 8 percent and still well below the national unemployment rate of 9.2 percent.
Texas Workforce Commission Chairman Tom Pauken said “As businesses continue to shift resources into Texas, new opportunities arise for job seekers already here, and for those who come here looking for opportunity.”