Texas employment grew 4.0 percent annualized in November after increasing a slightly revised 10.9 percent in October. While jobs have increased since May, they are still down sharply from December 2019. The Texas Leading Index increased for the seventh consecutive month in November, indicating continued positive growth over the next six months.
Using a top-down model based on national forecasts, COVID-19 infection rates and oil futures prices, we estimate that job growth will weaken further in December.
Read more...Texas Employment Forecast 12/18/20 via Dallas Fed