The economy across Texas is roaring, and things are no different in Alvin.
According to the Texas Workforce Commission, the unemployment fell to an all-time low of 3.6 percent in June. The rate is lower than any time in history, dating back to 1976 when the state began keeping records.
According to Ray Perryman, president and CEO of the Perryman Group, the job gains in Texas were across the board.
Perryman’s research indicates Texas gained more than 19,000 jobs in May, giving it a gain of more than 286,000 jobs for the year. That places the Lone Star State atop the national rankings for job growth in 2019.
Looking at growth by industry, Perryman reports the largest increase in employment between May 2018 and May 2019 occurred within the professional and business services group, which was up 49,100. Education and health services rose by 42,100 and leisure and hospitality gained 41,600. These sectors are large and involve labor-intensive activities, and it’s not unusual for them to generate large numbers of new jobs.
Growth was also strong in other segments of the economy, and diverse expansion brings a more sustainable pattern. Construction increased by 35,200 over the year, and trade, transportation and utilities added another 33,300 net new jobs. Manufacturing jobs impressively increased by 26,300.
The job growth is also showing itself in Alvin. According to a report by Chmura Economics’ JobsEQ, Alvin has seen a 4.2 percent increase in available jobs since 2018. At the end of May, the city had 14,231 people employed.
The report also revealed the annual wage in Alvin has climbed by 4.2 percent, with the average employee now making $56,909 a year.
The strongest sectors of the economy for employee wage are manufacturing ($120,317), mining/oil and gas extraction ($113,767) and utilities ($103,139).
And the job growth in Alvin is just beginning, according to JobsEQ.
The report says over the next five years, 1,475 jobs should be added in Alvin. The healthcare industry is expected to lead the way with an increase of 3.5 percent.