Texas added 318,100 jobs in May, according to the most recent numbers from the Federal Reserve Bank of Dallas.
The Texas Employment Forecast suggests jobs will decline by an overall 3.2-percent this year. Based on that forecast, 408,000 jobs will be lost in the state this year.
“There was a broad-based rebound across industries in May,” said Keith R. Phillips, Dallas Fed assistant vice president and senior economist. “Jobs in high personal-contact industries, such as restaurants, hotels and personal services, rebounded but remained significantly below February levels. The oil and gas sector was an exception to the May improvement, with jobs declining 52.3 percent following a 65.7 percent decline in April. The jobs rebound was also broad-based across regions in the state.”
The Texas unemployment rate ticked down from 13.5-percent in April to 13-percent in May. The rates fell in seven of the nine major Texas metro areas in May, the Dallas Fed said.
