The Lone Star State added 40,900 jobs during the month, according to seasonally adjusted and benchmarked payroll employment numbers.
“Strength in November was led by an increase in employment in leisure and hospitality, information services, education and health services, and mining employment. Only construction posted losses,” said Luis Torres, Dallas Fed senior business economist, in the press release.
The state has added 421,000 jobs in 2022.
The Texas Employment Forecast update indicated jobs will increase 3.5 percent this year, the Federal Reserve Bank of Dallas said.
November’s updated estimate is lower than last month’s projection of 4.3 percent.
“By adding over 40,000 jobs in November, Texas year-to-date job growth is a solid 3.5 percent despite the downward revision to the first half,” said Torres in the press release.
The Federal Reserve Bank of Dallas said the forecast decline was due to large downward revisions in Texas employment when benchmarking the payroll survey to the Quarterly Census of Employment and Wages.
The Texas unemployment rate remained unchanged at 4.0 percent in November.
Additional information about the Texas Employment Forecast, plus seasonally adjusted and benchmarked Texas jobs data and metro unemployment rates can be found at DallasFed.org.