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Texas will likely add jobs at a slower pace in 2024 after years of robust employment growth, the Federal Reserve Bank of Dallas said Friday.
The state will add nearly 284,000 jobs this year, a 2% increase from 2023, the Dallas Fed projects — a pace that’s in line with the state’s job growth rate before COVID-19 hit and the state’s economy kicked into overdrive. By year’s end, Texas employment will hit 14.4 million jobs.
By contrast, Texas added about 427,000 jobs in 2022 at a pace of 3.1% — the result of a rapidly growing labor force fueled by strong domestic and international migration.
“We’re cleared for landing, landing back to our long run trend rate of growth,” Pia Orrenius,…
