DALLAS FEDERAL RESERVE SURVEY - The service sector in Texas grew at a weaker pace in August, according to a survey from the Federal Reserve Bank of Dallas which came out Tuesday. The service sector accounts for the bulk of employment in Texas.
Christopher Slijk is an assistant economist with the Dallas Fed. He points out that this month the uncertainty index rose to an all-time high, with 30 percent of companies feeling worse about economic outlooks than in July.
"We are really seeing over the last six months overall moderate growth that’s really being tempered by a lot of uncertainty, particularly surrounding trade policy and global economic growth,” Siljk explained.
Service Sector Jobs account for most jobs in Texas and just about anywhere. The only industries the Dallas Fed’s survey doesn’t cover are government, manufacturing, energy, and construction.
