Texas job growth should increase slightly from 1.6% in 2016 to about 2% in 2017, says Federal Reserve Bank of Dallas assistant vice president and senior economist Keith Phillips.
“Job growth picked up in the second half of 2016 due to a stabilization of the energy sector,” Phillips said. “With that positive momentum, the Texas economy enters 2017 poised to shift into ‘second gear.’”
The forecast of 2% job growth means Texas should add about 242,000 new jobs in 2017. The Dallas Fed’s current estimate for job growth in 2016 is 1.6%, or about 193,000 new jobs, pending the release of December state employment data.