All signs pointed to a slowdown in the state's oil and gas industry last year, but Texas production instead intensified to near-record levels, spurred by higher-than-expected oil prices driven by overseas turmoil, a new industry report shows.
Statewide crude oil production is now poised to surpass its 1972 all-time high within two years, said Karr Ingham, an economist for the Texas Alliance of Energy Producers.
Last month's seasonally adjusted figure matched the May jobless rate for Texas, halting three months of declines in statewide unemployment rates. The nationwide jobless rate for June was 6.1 percent.
"Our economy continues to offer diverse opportunities to job seekers," said Commissioner Ronny Congleton, representing labor. "From teachers and health care workers to truck drivers and accountants — Texas is hiring."
Area Development analyzes economic and workforce data for 379 MSAs, producing a snapshot of the cities across America that are poised to capitalize on the new potential for economic growth as the United States leaves the recession behind. A diversified economic base tops the most desirable traits.
Midland, TX (Big 2 News) - An XCOR Aerospace sign is now mounted on a hangar in Midland International Airport, a sign of things to come.
"We're gonna have a lot of our employees here 10, 12 hours a day. It's a 60,000 square foot space and there's a lot of room in there," said Brad Hartman, commercial division manager and master electrician for Electrical Maintenance & Construction.
Brad Hartman, from electrical maintenance and construction put in a bid with the general contractor, Western LLC, to do the work for XCOR.
University of Southern California mechanical engineering junior Stephanie Balais developed a passion for aerospace after joining the university’s AeroDesign team and helping to construct an airplane fuselage hours before transporting the plane to a competition in Kansas.
As internships beckoned, she applied to many top defense and aerospace firms. But Microsoft Corp. snagged her first. This summer, Balais, 20, will spend 13 weeks in Redmond, Wash., working in the tech giant’s manufacturing and supply chain department.