Business

Texas’ Economy Slows on Weak Job Growth

Comerica Bank is reporting the Texas economy dipped in August after a strong showing in the first half of the year.

Comerica’s Texas Economic Activity Index ticked down a point in August to a reading of 98. That’s against a benchmark level of 100 for 2008. Chief economist Robert Dye says weak job growth was one of the main reasons for the decline.

“If you look over the last couple of months in Texas, we’re sort of stalled right around this 10,600,000 mark for total, non-agricultural employment, consistent with the same type of pattern we’re seeing across the US.”

Dye says recession and sovereign debt crises in the euro-zone could act as a drag on Texas’ economy near term. Even so, he expects the state’s job growth will pick up over the coming months, thanks in part to the rebounding of crude oil prices.

Subscribe to Today in Houston

Fill out the form below to subscribe our new daily editorial newsletter from the HPM Newsroom.

* required

Share

Andrew Schneider

Andrew Schneider

Politics and Government Reporter

Andrew heads Houston Public Media’s coverage of national, state, and local elections. He also reports on major policy issues before the Texas Legislature and county and city governments across Greater Houston. Before taking up his current post, Andrew spent five years as Houston Public Media’s business reporter, covering the oil...

More Information