According to the Federal Reserve Bank of Dallas, Texas employment is projected to keep increasing this year by 2-3%. This is slightly down from the 3.1% growth rate in 2012. We’re likely to have a faster growth rate than most states in the U.S. again this year, which is great news for us! More employment means more housing and higher prices, which we’ve already been experiencing.
Some of our economic swell will slow a little this year because of lower demand in manufacturing and the pace of oil and gas energy moderates. Export and energy weakness should be counter-balanced by an increase in construction statewide, however. Residential construction is expected to stay strong, as well as office construction.
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