Dallas Fed: Texas job growth remains steady

​​​​​​​DALLAS – Texas employment will grow 2.3 percent this year, according to the Texas Employment Forecast by the Federal Reserve Bank of Dallas. 

Based on the forecast, the state will add 292,100 jobs this year. Employment in December 2019 will reach 12.9 million.

This prediction comes after incorporating May 2019’s annualized employment growth of 2.1 percent and a moderate decrease in the leading index.

“The manufacturing and mining sectors have slowed this year likely due to increased tariffs, a strong dollar, a weakening world economy, and weaker oil prices,” said Keith R. Phillips, Dallas Fed assistant vice president and senior economist. “While these two important sectors have slowed, the private service-producing and construction sectors have accelerated moderately, leaving overall job growth so far this year at the same pace as in 2018.”

For more Texas employment data, head to the Real Estate Center’s website.