Prithvi Kalkunte

Dec 3, 2024 | dallasfed.org | Tyler Atkinson |Prithvi Kalkunte

Real (inflation-adjusted) GDP grew strongly during the second and third quarters of 2024, increasing at an annualized pace of 2.9 percent. Yet, the unemployment rate also rose 0.4 percentage points, an unusually large amount except during recessions. Some analysts have noted a tendency for downward revisions of GDP growth heading into a recession. They argue for greater emphasis on labor market indicators when assessing cyclical strength.

Dec 15, 2023 | dallasfed.org | Luis Torres |Luís Torres |Prithvi Kalkunte

Even with Texas employment growing rapidly and jobless rates remaining low in 2023, mass layoffs may be heading higher, according to notices of pending workforce reductions filed with state officials.  The federal Worker Adjustment and Retraining Notification (WARN) Act requires employers to inform state officials when they plan facility closures or mass layoffs.

May 11, 2023 | dallasfed.org | Laila Assanie |Prithvi Kalkunte

The Texas economy’s modest expansion appears to be slowing despite having some pockets of strength. Manufacturing has stagnated, the labor market has shown signs of cooling, commercial real estate activity has weakened, and banking conditions have continued to deteriorate along with outlooks. However, the service sector has seen continued growth in recent months, job gains remain robust, wage pressures haven't yet abated and the housing market has begun to stabilize.