After recovering all its pandemic job losses by November 2021, the state continued to grow strongly through most of 2022, adding workers at over twice its usual rate.
That was before a major downward revision based on a quarterly census of employment. It also was before fast-rising interest rates started cutting deeply into the housing market and other parts of the economy. That’s an impressive increase, far higher than average annual net gains over the past decade. But it’s a third lower than was estimated just four months earlier.
By the Dallas Fed’s estimate this month, Texas has grown jobs 3.5% this year compared with 3.2% for the U.S. By the BLS’ estimate, Texas employment has grown 5.1% for the 12 months ended in November.
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