Dallas Fed's metro economic indicators

Dallas economic activity picked up somewhat in April. The metro's business-cycle index rose 2.4 percent in April, following a 1.3 percent increase in March. Dallas employers added 2,600 jobs in total. For the first time in recent months, the goods-producing sector grew faster than the service-providing sector. The goods sector expanded by 4.5 percent, over four times the rate of services. Much of this growth was in construction employment, which expanded by 1,100 jobs (10.6 percent). Anecdotal reports suggest the increase in construction jobs is rooted in the nonresidential and multifamily sectors. State employers added 11,600 workers to payrolls in April - a 1.3 percent annualized increase, according to data released by the Texas Workforce Commission with seasonal and other adjustments made by the Dallas Fed. Year-to-date, the state has posted annualized job growth of 2.3 percent, a slowdown from last year's strong 3.2 percent pace. The Texas labor market remained tight, with an unemployment rate of 4.1 percent.

Be the First to Comment on this Post!.

Your Name
Your Email
Your Website
Comments
Security Code:

Back