According to the Connect Commercial Real Estate, October 2018 hit another record low in Texas unemployment rate, which now stands at 3.7%. Additionally, jobless rates are “significantly below post-recession averages in all major metros,” noted a report issued by the Federal Reserve Bank of Dallas.
A 2.7% growth was recorded for Texas in October, following suit to September’s increase of 2.4%. The state has added jobs at a 2.9% annualized rate so far in 2018, which is above its long-run average of 2%. The Dallas Fed predicts a 2.9% job growth in 2019 (December to December), with an 80% confidence band of 2.5%-3.3%.