Texas Economy Continues to Boom
The Texas economy grew faster in the second quarter, thanks largely to the booming energy industry and strong commercial real estate activity, according to a report by the Federal Reserve Bank of Dallas. Employment growth is a big part of that picture. Texas’ annualized job growth rose from 2.4 percent in the first quarter to 4.3 percent in the second quarter — the strongest pace in nearly nine years. And that happened even though employment growth slowed in May and June. The state’s job creation is outpacing the nation’s in all major industries except construction, manufacturing and other services in the first half of 2014. The Dallas Fed forecasts 3.5 percent employment growth this year, or 400,000 new jobs.
- Dallas Morning News, August 11, 2014
