Texas employers add 32,500 jobs in April
SMU's Bernard Weinstein talks about job growth in Texas and the potential implications of Europe's financial woes.
By BRENDAN CASE
The Dallas Morning News
Worries about the global economy have intensified in recent weeks, but for now the recovery in Texas is barreling ahead.
Texas employers expanded nonfarm payrolls by 32,500 jobs in April, the Texas Workforce Commission said Friday. That's the state's fourth straight month of job gains. . .
There are plenty of reasons for caution, however.
Initial U.S. jobless claims rose unexpectedly during the week that ended May 15, the U.S. Labor Department said Thursday. Building permits, an important housing indicator, fell last month. So did an index of leading U.S. indicators compiled by the New York-based Conference Board.
Moreover, global markets have swooned in recent weeks amid concerns about many European countries' debt levels and growth prospects.
"If Europe goes into the tank, that's going to affect us," said Bernard Weinstein, an economist at Southern Methodist University's Cox School of Business. "We could have, if not another recession in the U.S., clearly another slowdown just at the point where the economy is finally picking up steam."
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