The regional economy has picked up, posting stronger employment growth in April than in March. However, this year is starting out more slowly than 2012.
In addition to last year’s soft spots, such as exports, new headwinds are blowing. These include federal government budget cuts and tax increases. State initial jobless claims and the Texas unemployment rate are higher now than they were at year-end. It’s likely that Texas job growth in 2013 won’t be on par with the robust growth in 2012.
Texas will continue to grow faster than the nation, but the state’s growth premium vis-à-vis the nation has fallen slightly.
Read more...Regional Growth Slows From 2012 - Dallas Fed
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