April 2, 2018
Original monthly estimates for Odessa employment indicated approximately 71,200 jobs at year-end 2017. However, recent revised data released by the Texas Workforce Commission increased the numbers, putting year-end 2017 employment at 75,600, an upward revision of 4,400 jobs, representing a 7.1% job growth over year-end 2016.
West Texas economist Karr Ingham noted that the Odessa Economic Index continued posting high numbers in January 2018 as well, coming in at 224.5, up from 220.9 in December. Ingham is forecasting the OEI to reach and surpass its pre-downturn peak of 231.9, reported in January 2015.
“The January table of general economic indicators in Odessa is simply beyond impressive with 7.2% year-over-year employment growth, sharp decline in the unemployment rate compared to its year-ago level, and double-digit percentage improvement in every other component of the Odessa Economic Index,” Ingham said, adding that the elements are in place for continued economic expansion in 2018.
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