The Dallas Federal Reserve Bank expects Texas job growth to slow down late this year from a 3% rate right now to a 2% rate in the fourth quarter. But that dip may not last long.
Roberto Coronado, Senior Vice President and Senior Economist for the Federal Reserve Bank of Dallas says the movement of people and businesses into the state is a key driver of job growth.
Coronado explains that during and after the pandemic, the numbers of people moving to Texas began to accelerate. Coupled with the finding that approximately 82% of people born in Texas still lived here as of 2021, the state's population and accompanying job numbers will keep growing.
Furthermore, Coronado believes the diversity of the Texas economy, from technology hubs in Austin to energy businesses in Corpus Christi, has also bolstered the Texas economic growth.
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