Unemployment Rate Decreases for both Texas, Lubbock
The unemployment rate in both Lubbock and Texas has dropped from one year ago.
The Texas Workforce Commission released employment statistics for January 2012 Friday, showing unemployment rates dropping from the same period last year.
The Lubbock Metropolitan Statistical Area’s total nonfarm employment for January of this year increased to 129,400, up from January 2011’s 126,800. January 2012’s employment is lower from December 2011’s 132,000, likely higher due to holiday seasonal employment. The Lubbock MSA includes Lubbock and Crosby Counties.
The Lubbock MSA’s unemployment rate for January 2012 dropped to 5.9 percent from January 2011’s 6.4 percent, but slightly up from December’s 5.4 percent.
The biggest employment gains were seen in the Transportation, Warehousing, and Utilities sector for the Lubbock MSA, with an 8.1 percent increase, a jump of 300 jobs from January 2011 to January 2012. Mining, Logging, and Construction experienced a year-over-year increase of 3.6 percent in January 2012, and Professional and Business Services increased 5 percent.
Some sectors did see a decrease, the largest of which is local employment by the federal government, which experienced a 13.3 percent decrease from January 2011 to January 2012. The Information sector also decreased 4.7 percent. Lubbock MSA local government remained completely unchanged with 14,900 jobs, and local state government employment increased by 9.8 percent last January to 12,300 jobs.
The Texas unemployment rate for January 2012 dropped to 7.6 percent, down from January 2011’s 8.4 percent. The statewide employment numbers increased to nearly 11,516,000, up from 11,296,000 from the same period last year.
The national unemployment rate stayed at 8.3 percent