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Texas Economy Soft in January, but Outlook Optimistic for Later in 2021
Regional economic conditions appeared to deteriorate in January after picking up at year-end, data show. Nonetheless, there is optimism regarding the outlook for growth later this year.
Texas Economy Keeps Growing Despite More Pessimistic Outlook
The regional economy is growing at a moderate pace, and labor markets remain tight. However, the outlook among Texas firms has deteriorated due to concern about tariffs, trade policy uncertainty and slowing global growth.
Journal Article
Small Business Hardships Highlight Relationship with Lenders in COVID-19 Era
The COVID-19 crisis has disrupted normal small business operations and will likely limit the ability of many enterprises to stay financially afloat. Although lenders have become better equipped to evaluate risks and serve small businesses, the supply of credit tends to shrink during economic downturns.
Texas Economy Improves Despite Lagging Sectors as COVID-19 Cases Decline
Continued growth is projected for the rest of the year, but it may be somewhat restrained by the expiration of federal stimulus programs and election uncertainty.
Without Immigration, U.S. Economy Will Struggle to Grow
Slowing labor force growth is the product of a number of factors—the aging of the U.S. population, retiring baby boomers and declining birth rates. But another element is immigration.
Journal Article
Federal COVID-19 Relief Aided Consumer Debt, Though Immigrant Texans Derived Less Benefit
U.S. and Texas residents shored up their household finances during the COVID-19 recession. The prevalence of various federal-level assistance programs helped boost savings and broadly reduce debt. Among mostly immigrant groups, this tendency was less pronounced, likely due to legal and socioeconomic barriers.
Services, Construction Lead Texas as Manufacturing, Energy Soften
Sluggish growth in manufacturing is attributable to softening demand for durables, which appears tied to a slowing energy sector.
Journal Article
Go Figure: Vehicle Sales Highlight Surprising Resilience in Spending During Pandemic
Texas truck/SUV sales held steady while car sales declined steeply amid the recession caused by COVID-19.
Texas Economic Activity Sharply Falls in Wake of COVID-19
Virus containment measures have prompted unprecedented declines in demand and triggered mass layoffs, shaking business and consumer confidence.
Working Paper
Labor Market Effects of Worker- and Employer-Targeted Immigration Enforcement
Hiring someone who is not authorized to work in the United States is illegal, and employers who knowingly hire unauthorized immigrant workers may face civil and criminal penalties. The federal government uses a variety of actions, including worksite raids and paperwork audits, to enforce the prohibition on hiring unauthorized workers. Compliance costs and the possibility of becoming the target of an immigration enforcement action may affect U.S. businesses’ decisions about whom to hire as well as how many workers to employ and how much to pay them, but little previous research has studied ...