May 13, 2019
Following a marked downward shift in the final two months of 2018, the Texas economy experienced moderate expansion throughout Q1 2019. According to a report released by the Federal Reserve Bank of Dallas, employment increased at an annual rate of 2.2% in March 2019, and 2.1% in the first quarter. Texas unemployment remained at 3.8% in March, as well, with initial claims for unemployment insurance continuing near post-recession lows, suggesting a continued tight labor market.
Home sales also increased as mortgage rates fell. High demand was reported, as was scarce supply at lower prices. Meanwhile, Texas exports increased by a cumulative 3.2% in January and February. Exports remain near historically high levels, despite a strong dollar.
While the general outlook remains positive, Dallas Fed analysts noted that risks could include slowing international trade, energy price volatility and a softer Mexican economy.
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