Texas created 43,900 jobs in June and the state unemployment rate fell slightly from 6.6% in May to 6.5% in June, according to the Federal Reserve Bank of Dallas, which released its estimated June employment numbers on Friday.
The Dallas Fort Worth area’s unemployment rate also fell slightly, from 5.6% in May to 5.4% in June. The Texas Workforce Commission estimates that Texas employers created 55,800 jobs as of June.
Texas Governor Greg Abbott (R) made a statement after the June numbers were released on Friday praising Texas’s booming economy.
June’s job report shows that our young, growing and skilled workforce has created a diversified and resilient economy, with Texas employers creating more than 1.1 million jobs since late April 2020, the biggest job impact of the pandemic Abbott said in a statement.
After the May employment figures were released, the Federal Reserve Bank of Dallas announced that its unemployment forecast had weakened from an estimated employment growth of 6.6% in 2021 to 4.1%, citing a surge in COVID-19. Hospital admissions and a slowdown in COVID-19 vaccinations.
However, the June numbers showed a stronger outlook for the future and drove the bank’s employment forecast in Texas to employment growth of 5.6% in 2021.
“Healthy job growth in May and June and a stronger outlook for US GDP growth in the second half of the year drove the forecast upward,” said Keith Phillips, vice president and chief economist of the Dallas Fed, in a press release on bottlenecks and labor bottlenecks should ease in the second half of the year. The forecast would be even stronger, aside from an increase in forecast COVID-19 hospital admissions in Texas in the third quarter, which could dampen growth somewhat. “
The updated forecast predicts 695,600 jobs will be created in Texas this year, bringing the total to 13.0 million as of December.
With the June numbers, Texas had created 267,400 jobs through June.
For more information on June employment numbers and the Federal Reserve Bank’s employment forecast, please visit here.
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