Texas added 78,400 jobs in the month of June according to payroll employment numbers released by the Federal Reserve Bank of Dallas Friday.
According to the report, the state added a revised total of 60,100 jobs in May. The state has added 370,500 jobs total in 2022.
The Texas Employment Forecast predicts that jobs will increase by 4.5% in 2022, a slight increase from the previous projection of 4%.
"Texas employment accelerated in June, bringing job growth in the second quarter to a robust 6%," said Christopher Slijk, Dallas Fed associate economist. "Expansion in June was broad, with only construction seeing a decline. Nevertheless, growth is expected to slow in the second half of the year to 3.4% as headwinds from a weaker U.S. outlook, along with ongoing supply-chain and labor market challenges, put downward pressure on economic growth in Texas."
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Other key predictions and statistics from the report include:
- The forecast projects that 593,800 jobs will be added in Texas this year and that 13.7 million Texans will be employed in December 2022
- Texas employment grew an annualized 7.3% in June after increasing a revised 5.6% in May
- Unemployment decreased in the metro areas of Houston, San Antonio--New Braunfels, El Paso, Brownsville--Harlingen, Laredo and McAllen--Edinburg--Mission, according to seasonally adjusted numbers from the Dallas Fed.
- Unemployment remained unchanged across DFW cities
- The Texas unemployment rate declined from 4.2% to 4.1% from May to June
Additional information from the Texas Employment Forecast as well as Texas job data and unemployment numbers can be found on DallasFed.org.
