Dallas Fed: Texas Adds 21,900 Jobs in May; State Employment Forecast Calls for 2.3 Percent Growth in 2019
Friday, June 21, 2019
For Immediate Release: June 21, 2019
Texas added 21,900 jobs in May, according to seasonally adjusted and benchmarked payroll employment numbers released today by the Federal Reserve Bank of Dallas.
The state added a revised 32,800 jobs in April. Year-to-date annualized job growth stands at 2.3 percent compared to annual growth of 2.3 percent in 2018.
Incorporating May job growth of 2.1 percent and a moderate decrease in the leading index, the Texas Employment Forecast suggests jobs will grow 2.3 percent this year (December/December), with an 80 percent confidence band of 1.4 to 3.2 percent. The forecast is unchanged from last month’s release.
Based on the forecast, 292,100 jobs will be added in the state this year, and employment in December 2019 will be 12.9 million.