Texas Job Growth ‘Firing On All Cylinders,’ Says Fed

The state has the nation’s third highest rate of job growth.

By Paul FlahiveJanuary 10, 2018 9:30 am, , ,

From Texas Public Radio:

Texas had a 3.8 percent unemployment rate in November, according to the Federal Reserve Bank of Dallas’ 2018 economic forecast. It is the lowest rate they have seen they started monitoring it in 1976.

Dallas Fed’s vice president and senior economist Keith Phillips said in 2017 the state’s job growth was 2.5 percent, but next year it will grow more quickly at 3 percent, adding 366,000 jobs. Phillips described Texas as “hitting on all cylinders” with broad-based growth driven largely by energy and manufacturing.

“It’s hard to find any areas of weakness, either across regions or across industries,” he said.

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