Construction lost 3,900 jobs last month while leisure and hospitality added over 20,000.
Construction loses positions for a fourth straight month and downward revisions are likely ahead, economist says.
But evidence of a slowdown is mounting after Friday’s release of new and revised job numbers. Texas’ construction industry lost 3,900 jobs last month as the impact spread from the Federal Reserve’s higher interest rates and the subsequent pullback in the housing industry. November’s increase was still well ahead of average monthly gains in 2018-19, before the pandemic hit. But recent impressive numbers may not hold up after estimates are revised in coming months.Pia OrreniusA different set of data – from a quarterly census – led to sharp downward revisions for the second quarter of 2022.
Texas’ year-over-year job growth was the highest of any state, and that won’t change, she said, because numbers will be revised downward for most others, too. After leisure and hospitality, the big gainers were education and health services, up 5,400; mining and logging, which includes the oil and gas industry, up 3,800; and information, up 3,700.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Texas adds 33,600 jobs in November as economic expansion slowsConstruction lost 3,900 jobs last month while leisure and hospitality added over 20,000.
Read more »
Five North Texas Schools Compete for Texas High School Football Titles this WeekendGunter, Aledo, South Oak Cliff, DeSoto, and Duncanville High Schools all qualified for the championship game, in their respective divisions, at AT&T Stadium.
Read more »
Effort to Feed North Texas First Responders on Christmas Day Spreads Across North TexasEach Christmas, volunteers with Feed-a-Hero make sure no first responder goes hungry on the holiday.
Read more »
Texas A&M turns to former Texas assistant in volleyballJamie Morrison to replace the fired Laura 'Bird' Kuhn as Aggies volleyball coach.
Read more »
‘The Whale’: Inside a Debate About a Portrait of Severe ObesityFilmmakers for 'The Whale' say they made an empathetic portrait of a man with severe obesity. Critics are calling it exploitative.
Read more »
Fed officials reinforce stern message of slowing inflation by higher interest ratesInflation is still “stubbornly high,” and the Federal Reserve will raise interest rates as much as necessary to bring price pressures back under control, a senior central bank official said on Friday.
Read more »