Texas' mixed job signals echo national figures
SMU economics Professor Mike Davis says the Texas economic recovery will follow in the footsteps of the national economy.
Mixed signals at the national level echo the July jobs report for Texas, the most recent report available.
The state's employers expanded payrolls by 37,900 jobs in July, the first monthly employment gain since October, according to preliminary data released last month. But the jobless rate rose to 7.9 percent in July from 7.5 percent in June.
Despite the surprisingly strong payroll employment increase in July, many analysts say the state is unlikely to post sustained gains until the U.S. economy as a whole recovers.
"My best guess is that we're pretty much going to match the recovery in labor markets nationally," said Mike Davis, an economist at Southern Methodist University.
"I have no reason to think that the bounce-back is going to be sooner here than it is nationwide, which means probably not this year."
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