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enior Vice President & Director of Research at REOC San Antonio

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2015 Texas job growth forecast still healthy despite oil price shock, says Dallas Fed

DallasFed_2015Outlook_Pg1Federal Reserve Bank of Dallas senior economist and research officer Keith Phillips recently reported that Texas job growth is expected to moderate but remain healthy in 2015 even as lower oil prices slow growth.

Phillips presented the Bank’s annual Texas Economic Outlook before local business leaders at the Dallas Fed’s San Antonio Branch.

Texas job growth will likely slow from about 3.6 percent in 2014 to between 2 and 2.5 percent in 2015, Phillips said. That equates to about 235,000 to 295,000 new jobs in Texas in 2015, down from an estimated 408,000 jobs created in 2014.

Texas has a diversified economy, and while the drop in oil prices slows job growth, it won’t send the state into a recession like it did in the 1980s.

Click to read: 2015 Texas Job Growth Forecast Still Healthy Despite Oil Price Shock, Says Dallas Fed (Dallas Fed, 1-13-15)

Download 2015 Texas Economic Outlook: Tapping on the Brakes (Phillips, Dallas Fed, 1-13-15)

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