TEXAS JOB OUTLOOK - Texas is expected to add fewer new jobs this year. That’s according to the annual Texas Economic Outlook from the Federal Reserve Bank of Dallas. Senior Economist Keith Phillips says one reason is lower oil prices. The other has to do with the fact that unemployment in the state is at a record low, making it harder for employers to find workers.
“Normally when you think of a slowdown, it’s because demand has slowed, but part of the slowdown this year is just because of supply constraints, especially in terms of job growth, we can’t produce more if we don’t have the workers to make the product.”
Phillips says he expects employment to grow in Texas at a rate of about 1-and-a-half percent, compared to 2-point-4 percent in 2018. According to a report recently released by the Dallas Federal Reserve: Texas has been the leading destination for companies relocating from other states with California leading the pack in the most jobs migrating to Texas.
