The unemployment rate in Texas hit a historic low in October, plunging to 3.7 percent, as the state’s employers boosted payrolls for a 28th consecutive month, according to government data.
The state’s seasonally adjusted employment rate is the lowest level since the data began to be measured in January 1976. The Texas economy added 32,300 seasonally adjusted non-farm jobs in October, according to the Texas Workforce Commission.
The low unemployment rate has economists watching whether the tightening labor market increases workers’ earnings as employers boost salaries to attract potential employees. Workers’ earnings have stagnated in recent years, here and across the country.