Regional Growth Continues at Moderate Pace via Dallas Fed

The Texas economy continues to expand at a moderate pace. January payroll job growth strengthened modestly from December and continued to outpace the nation. The unemployment rate declined sharply in January, reaching a five-year low. Despite recent weakness in home sales, the housing market remained robust, with low inventories and continuing house price appreciation. The energy sector also remained strong, and exports jumped in January following a dip in December.

Job Growth Up Slightly in January
The Texas economy added 21,200 jobs—a 2.3 percent annualized increase, up from 1.9 percent in December (Chart 1). Construction and services grew at a stronger pace in January, while the manufacturing sector lost jobs, partly due to adverse weather across the nation.

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