Texas Jobless Rate At Highest Level Since 1987

AUSTIN (AP) – The unemployment rate in Texas has jumped to 8.4 percent in July, the highest level since the state was reeling from an energy, real estate and banking crisis 24 years ago.

The Texas Workforce Commission said Friday the jobless rate was up from 8.2 percent in June. The increase came despite a 10th consecutive month of job growth. The agency says the state added 29,300 jobs in July.

The unemployment rate matched the figure from July 1987.

Commission Chairman Tom Pauken says the state “continues to feel the effects of a stagnant national economy.” The U.S. jobless rate is 9.1 percent.

The trade, transportation and utility sector added 15,300 jobs last month, but that was offset by a combined loss of 15,400 jobs in the government and construction sectors.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

More From CBS Dallas / Fort Worth

Drip Pan: CBS Local App
Drip Pan: Weather App
Drip Pan: Video Player

Listen Live