Texas’ Shining Fortunes May Be Dimming

Jan 9, 2018

Credit Richie, Robert Yarnall / Flickr Creative Commons

Texas isn’t quite as special these days as it has been for most of this new century, claims a new editorial in the Dallas Morning News.

The state, notes the contributor Richard Parker, “has burned brightly since the beginning of the century.”

But now that bright Lone Star is cooling off. Parker is careful to note that the state’s changing fortunes don’s so much signal a downturn as “a leveling off.”

Economists believe the state’s robust growth will be more restrained in the future. And oil prices, to which the state’s fortunes have often been tied, are likely to hover near $50 per barrel in the coming year. Meanwhile, the effects of Hurricane Harvey are still being felt, resulting in a drag on the economy.

Closer to home, however, things still look bright for Amarillo. The downtown area is booming, and the unemployment rate consistently remains one of the lowest in the state.