TexasSign

November 26, 2018 Comments Off on Texas Unemployment Rate Sets Record Low Views: 1022 Texas News, Top Texas

Texas Unemployment Rate Sets Record Low

The Texas unemployment rate stood at 3.7% in October 2018, setting a record low. Additionally, jobless rates are “significantly below post-recession averages in all major metros,” noted a report issued by the Federal Reserve Bank of Dallas.

Lone Star State employment, on the other hand, expanded 2.7% in October, following September 2018’s upwardly revised 2.4% growth. The state has added jobs at a 2.9% annualized rate so far in 2018, which is above its long-run average of 2%. The Dallas Fed predicts a 2.9% job growth in 2019 (December to December), with an 80% confidence band of 2.5%-3.3%.

While oil prices fell from its four-year high of $75.13 per barrel to $57.02 during the past several weeks, the prices remain above the $50.83 average reported in 2017. The current active rig count of 535 is 24% higher than its 2017 average of 431 rigs, according to the Dallas Fed.

Read More at Dallas Fed


Get CRE News in 150 words

For comments, questions or concerns, please contact Amy Sorter

Tags: , ,

Comments are closed.