Texas job growth is forecast to strengthen to 3% in 2018 from an estimated 2.5% in 2017, according to the Federal Reserve Bank of Dallas. The forecast means Texas should add about 366,000 new jobs in 2018. Texas added 305,900 jobs in 2017, ranking No. 3 in the nation for job growth after falling below the national average in 2015 and 2016. The pickup was mostly due to a rebound in the energy and manufacturing sectors.
Employment growth broadened across the state’s major metro areas in 2017. Austin and Dallas posted the strongest gains, followed by San Antonio, which saw 3% growth in 2017. Houston rebounded from weakness in 2015 and 2016 and Hurricane Harvey only had a temporary impact on job growth.