The Texas economy is expected to pick up in 2017, say analysts, though the growth may be modest.
As the Austin American-Statesman reports, the Federal Reserve Bank of Dallas expects the labor and economy markets in the Lone Star State to grow a bit sunnier this year.
Economists expect payrolls to grow by about two percent this year, resulting in an additional 242,000 jobs. Of interest to West Texas, the oil and gas sector is expected to see a bit of relief this year. Prospects for employment in the Texas oil fields have already begun to look up, in the wake of OPEC’s announcement that it plans to cut production.
Regarding the Texas economy, Mine Yücel, the Dallas Fed’s director of research, said, “We think the worst is behind us, but there’s a lot of uncertainty out there.”
