A recent report has shown that Texas led growth in midsize company employment between the second quarters of 2013 and 2014. Data from the National Center for the Middle Market revealed that employment at Texas companies making $10 million to $1 billion was more than double the national average.
Overall, employment in midsize companies increased 3.2 percent in the U.S. In Texas, growth was 7.3 percent. Currently, 29 percent of the Texas workforce is employed in companies of this size. Business services organizations employ 25 percent of people in Texas' middle market. Manufacturing, wholesale and construction also contribute more than 10 percent of the workforce each.
Expansion in the state's middle market is forecasted to remain strong through the next 12 months, with a predicted increase of 6.8 percent. National employment at midsize companies is expected to grow 3.3 percent over the same period.
As less than 1 percent of Texas' companies are defined as midsize, trends in the market do not necessarily reflect state employment as a whole. Trade, transportation and utilities positions dominate the Texas workforce, with nearly 100,000 more jobs than business services, according to data from the U.S. Bureau of Labor Statistics.