May 15, 2019
The Federal Reserve Bank of Dallas’ recent report for Houston shows mixed metrics when it comes to economic indicators. The Houston Business-Cycle Index accelerated to a 4.9% growth rate for three months ending in March 2019, above the historical average pace of 3.5%. However, the Houston population slowed to 1.3%, adding 56,119 people between July 2017-July 2018. The number represents a 1.4% decline from the 61,437 people who came to the Houston area from July 2016-July 2017.
Flipping to the plus side, employment growth for three months ending in March 2019 was 2.6%, an addition of 20,200 jobs on an annual basis. The metric represented an increase of 1.6% and 1.1% for three months ending in February and January, respectively. The unemployment rate was 3.8% in March, down from the 4.3% in January. “Gains in the number of employed people outstripped flattening labor force growth,” Dallas Fed analysts indicated.
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