Hilco Real Estate 6-2024

State unemployment rate drops slightly

by | Apr 8, 2022 | Latest

The Texas Workforce Commission (TWC) announced the seasonally adjusted Texas unemployment rate for February was 4.7%, a decrease of 0.1% from January.
According to a March 25 news release, the Dallas-Fort Worth Metroplex recorded an unemployment rate of 4.1% in February, remaining unchanged from January.

The unemployment rate in February 2021 was 6.1%.

According to the Texas Labor Market, Collin County had 21,862 unemployed people out of a total workforce of 618,771 people for a rate of 3.5%, the same rate recorded in January. In 2021, the unemployment rate in Collin County was 5.3%.

In Wylie, data shows there were 1,025 unemployed people out of a total workforce of 31,043 for a rate of 3.3%, down slightly from 3.4% recorded in January.

In February 2021, the unemployment rate in Wylie was 5.1%.

Additionally, Texas added 77,800 new nonagricultural jobs, making gains in 21 of the last 22 months.

For the month, the state exceeded the previous record employment level set in January by reaching over 13 million jobs in February.

There have been 832,200 new positions in the state in the last 12 months.

“February marks the fourth consecutive month of record-setting employment levels in Texas,” said TWC Chairman Bryan Daniel. “This continued growth highlights the strength of our Texas economy and signals significant opportunities for Texans in the Lone Star State.”

Trade, transportation and utilities gained 18,200 jobs in February while leisure and hospitality added 17,400 positions. Additionally, professional and business services grew by 16,800 jobs.

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