Texas Politics 365: Economy

Saturday, February 11, 2023

Dallas Fed: "Soft Landing"for Texas Economy in 2023

[#TexasPolitics365]

The Dallas Federal Reserve Bank's Texas Employment Forecast predicts that Texas' economy will have a "Soft landing" to the nation's recession this year. A report the Fed bank published this week indicates that jobs should increase 1.4 percent in 2023. The forecast is based on an average of four models that include projected national GDP, oil futures prices and the Texas and U.S. leading indexes. The forecast suggests that 193,000 jobs will be added in the state this year, and workforce employment in December 2023 will be 13.7 million

(Full story HERE.)
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Sunday, January 31, 2021

FED Economist Says #Texas Economy Primed To Come Roaring Back In 2021

[#TexasPolitics365]

Texas employers are expected to create 518,000 new jobs this year, an eye-popping gain after one of the most volatile years in recorded history for the nation’s economy, the Dallas Morning News reports.

Federal Reserve Bank of Dallas economist Keith R. Phillips said Friday that Texas is likely to see economic growth accelerate in the second half of this year.

“As we go forward with more and more vaccinations, it could be a very strong second half,” Phillips told viewers during a Fed presentation.

Tweeting about the economist's report, Gov. Greg Abbott was gleeful.

"Texas’ most reliable economist expects ‘very strong’ recovery for state in second half of 2021. Count on it. The Texas economy is about to skyrocket."

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