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Texas economic activity, job growth weaken as 2023 closes
Texas economic growth slowed in the fourth quarter, with job growth falling sharply in October and business activity contracting slightly in November.
Texas firms use AI with little employment impact so far
Learning how businesses use artificial intelligence (AI) helps policymakers understand changing economic conditions, particularly involving employment and productivity.
Wage growth still exceeds 3 percent despite slowing in business survey measures
Fed policymakers working to reduce inflation have closely monitored how fast wages have risen. National estimates put recent 12-month wage inflation at around 4–5 percent, though these measures can lag other indicators of labor market conditions. More timely wage data can be found from the five regional Federal Reserve Banks that run business surveys.
Service sector leads Texas gains; firms say credit constraints not binding
Texas economic activity expanded at a modest pace in May, driven by the service sector. Texas employment growth picked up, and the unemployment rate nudged up to 4.0 percent in April from 3.9 percent in March.
Texas economy moderates toward more normal growth in 2024
Texas economic growth remains healthy while gradually reverting to a more historically normal pace of expansion following the pandemic when a bust in the first half of 2020 preceded a subsequent boom.
Texas shows signs of slowing; price pressures ease despite buoyant services
Texas job growth slowed in June, though it still exceeded the U.S. rate. Meanwhile, the state economy continued to expand despite the downshift in employment and weakness in manufacturing.
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.
Texas economic activity expands modestly; labor market remains healthy
Texas economic activity expanded at a modest pace in April. While the manufacturing sector rebounded, the service sector slowed. Texas employment growth was moderate in the first quarter, slightly above the state’s roughly 2 percent long-run trend, and the unemployment rate held steady.
Discussion Paper
Do Regional Fed Surveys Reflect National Manufacturing Conditions?
Surveys play an important role in how research staff across the Federal Reserve System understand changing economic conditions. Several Reserve Banks conduct manufacturing surveys to gauge the health of the manufacturing sector in their districts. Since these surveys are published before national data, policymakers and market watchers often use them for a signal of where U.S. manufacturing activity is heading. In October 2014, the Dallas Fed published an Economic Letter in which they found that regional Fed manufacturing surveys improved forecasts for several key national indicators. In this ...
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.