Texas unemployment rate in October hits record low

The unemployment in the US state of Texas in October fell below four per cent for the first time in more than 40 years, according to the Texas Workforce Commission.

The unemployment declined to 3.9 per cent from 4 per cent as employment growth accelerated to an annual rate of 2.6 per cent, nearly double the national rate 1.4 per cent, Xinhua news agency reported.

According to the Workforce Commission, the state gained more than 71,000 jobs over the month and has added more than 300,000 over the past year.

Governor Greg Abbott said on Friday that Texas has recently experienced some of its most serious economic challenges, but "despite these obstacles, our economy is booming".

"This resiliency is a testament to the diversity of our economy and the strength of our workforce. As Governor, I will continue to promote policies that allow businesses to thrive and keep Texas the best state in the nation to do business."

--IANS

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