The Perryman Report and Texas Letter talks about:
• Jobs – Texas added 39,600 jobs in April for a total of 332,300 jobs over the previous 12 months,
• Energy – Advances in technology in an amazingly short period of time have reduced the cost to produce oil. Three years ago $70 per barrel almost shut down the industry. Today that price accelerates an ongoing surge. Production is so strong that the Permian Basin will run out of pipeline capacity within the next 3 to 4 months until new pipelines can be completed in 2019.
• Business – Texas again winning the top award for corporation location and expansion projects from the Site Selection Magazine.
• Population – Texas is projected to reach a population of 30 million in the next 4 years.
The Federal Reserve of Dallas Texas Employment Forecast projects a whopping 412,600 jobs will be added to the state this year with a job growth rate of 3.3%. The 2018 forecast is significantly above 2017 job growth of 1.9 percent. The Fed’s Leading Index for Texas continues it’s positive three year trend after recovering from the downturn caused by the drop in the price of crude oil.