Analysts Predict Robust Job Growth In Texas This Year
Texas job growth will likely rebound by 3 percent this year, according to new prognostications from the Dallas Fed.
As The Austin American-Statesman reports, the Fed expects employers to add about 370,000 new jobs in 2018. That’s up from just over 300,000 last year. However, payroll numbers are not expected to rise due to a tight labor market.
If the numbers prove true, the expanding job market would signal a return to the booming expansion rates Texas experienced before oil and gas prices plummeted in 2014. Oil prices appear to have leveled off now, and experts in the energy sector expect oil prices to rise again to around $59 a barrel by year’s end.
However, if the Trump administration holds true to its plans to stifle trade with Mexico, that could negatively affect job growth.