Texas modestly grows with soft landing likely
Texas firms reported below-average output growth to start 2023, while employment and wage gains remained elevated despite indications of a softening labor market.
Mounting Signs Point to a Texas Economic Slowdown
The most recent jobs report showed state employment was flat in August. The unemployment rate rose slightly to 4.1 percent (from 4.0 percent in July), and labor force and wage growth also eased.
Texas economic activity strengthens despite slowing job growth, greater price resistance
Texas employment growth slowed even as overall activity strengthened in August and September. Resistance to price increases rose.
Go Figure: If Texas were a country…
Texas is comparable to entire countries—and so are some of its urban areas.
Around the region: Texas metro unemployment rates drop but remain above early 2020 levels
Unemployment rates across Texas metros have come down quickly since the pandemic recession of 2020, though they remain above preoutbreak levels.
Texas economic growth outpaces nation despite persistent downside risks
Texas employment growth advanced in May, continuing to surpass the national average.
New disruption from artificial intelligence exposes high-skilled workers
With workers still grappling with the consequences of automation, the lightning-speed pace of artificial intelligence (AI) development poses fresh concerns of a new wave of worker displacement.
Texas natives likeliest to ‘stick’ around, pointing to state’s economic health
Based on a calculation measuring the share of people born in each state who still live there, Texas is the nation’s “stickiest” state. The natives aren’t leaving.
Go Figure: Birth Rates Falling Faster in Texas than U.S.
Although birth rates in Texas remain higher than in the U.S., their decline since 2007 has been particularly noteworthy.
Slowing Texas economy remains on track for a soft landing
The impact of a still-strong Texas jobs market and moderating business activities and costs suggest that the state’s economy may be headed for a soft landing following Fed policymaker efforts to cool inflationary pressures.