Keith Phillips, Dallas Fed

January 12, 2017 Comments Off on Dallas Fed: Texas Forecasted to Add 242K Jobs in 2017 Views: 476 Texas News, Top Texas

Dallas Fed: Texas Forecasted to Add 242K Jobs in 2017

Though parts of Texas became job-creation juggernauts in 2016, other regions suffered, due to the oil-price slump. Overall, job growth in the Lone Star state increased 1.6%. And, according to Federal Reserve Bank of Dallas Assistant Vice President and Senior Economist Keith Phillips, job growth in 2017 will end up at around 2%. Translating that to numbers, it means Texas is poised to add an additional 242,000 jobs.

Phillips, who presented the Bank’s annual Texas Economic Outlook to business leaders at the Dallas Fed’s San Antonio branch, indicated that, while the state’s economy had weakened in the past two years, it did continue  growing, thanks to the service sector. Furthermore, “job growth picked up in the second half of 2016, due to a stabilization of the energy sector,” Phillips said. “With that positive momentum, the Texas economy enters 2017 poised to shift into ‘second gear,”, he added.

Read More at Federal Reserve Bank of Dallas

Connect with the Dallas Fed’s Phillips

For comments, questions or concerns, please contact Amy Sorter

For advertising information, please contact Joni Margotta


Comments are closed.