Dallas Fed: Texas Economy Continues Strong Growth

​​​​​​DALLAS (Federal Reserve Bank of Dallas) –  August 20, 2019 – Texas employment will grow 2.6​ percent this year, according to the Texas Employment Forecast by the Federal Reserve Bank of Dallas.​ Based on the forecast, the state will add 331,100 jobs this year. Employment in December 2019 will reach 12.9 million.

This prediction comes after incorporating June 2019’s annualized employment growth of 3.4 percent and a slight increase in the leading index.

“Despite continued declines in the energy sector, the Texas economy continues to grow at a strong pace,”​ said Keith R. Phillips, Dallas Fed assistant vice president and senior economist. “Growth in the construction, financial services, and leisure and hospitality sectors has been particularly robust, while the manufacturing sector has picked up from modest growth in the first five months of the year.”​

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