Optimism wanes amid slowed fourth quarter Texas job growth

The Texas economy slowed in the fourth quarter, with business owners pessimistic about uncertainty surrounding low oil prices, trade barriers and gridlock in Washington, D.C., according to the Federal Reserve Bank of Dallas.

Texas employers added jobs at a 2.5 percent pace for the three months ending Dec. 31, slightly lower than the third-quarter rate of 2.7 percent. Fort Worth and San Antonio were the only two major metros that didn’t not their job growth slow in the fourth period.

The Dallas Fed’s Texas Leading Index — a composite indicators including the Texas value of the dollar, oil prices, well permits, unemployment claims, Texas stock prices, help-wanted notices and average weekly hours worked in manufacturing — declined a sharp 3 percent.

ExpressNews.com

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Shelly Jo Jacobs

Author: Shelly Jo Jacobs