Texas job growth decelerates in September
DALLAS – Texas employment will grow 2.1 percent this year, according to the Texas Employment Forecast by the Federal Reserve Bank of Dallas.
Based on the forecast, the state will add 263,700 jobs this year. Employment in December 2019 will reach 12.9 million.
This prediction comes after incorporating September 2019’s annualized employment growth of 0.7 percent and a decrease in the leading index.
"After strong growth in June and July, Texas jobs decelerated in August and September," said Keith R. Phillips, Dallas Fed assistant vice president and senior economist. "The weakness in oil and gas extraction is spilling over to other sectors such as transportation and warehousing, which experienced job losses in both August and September.
"Manufacturing employment continues to grow at a good pace, however, in part driven by continued strength in petrochemical and refining activity. Construction activity also remains robust."
Get more Texas employment news on the Real Estate Center’s website:
Source: Federal Reserve Bank of Dallas
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