Texas Economic Review January 2010
The nation's labor market hit bottom in August 2009 but the Texas labor market has not yet hit bottom. The Texas economy lost 277,400 nonfarm jobs from December 2008 to December 2009, an annual job loss of 2.6 percent. Over the same period, the U.S. economy lost more than 4 million jobs or 3 percent of its total nonfarm jobs. The state's seasonally adjusted unemployment rate rose from 5.6 percent in December 2008 to 8.3 percent in December 2009, while the U.S. rate rose from 7.4 percent to 10 percent during the same period.
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