The Texas economy slowed in March in the wake of lower oil prices, a strong U.S. dollar, and a weak global economy. The number of jobs
in the state decreased in March, although annual employment grew primarily due to the services sector, trade, and leisure and hospitality. The unemployment rate ticked up with increased participation in the labor force. Texas manufacturing
and mining and logging
employment declined, while services
continued a positive trend. Texas housing
demand improved moderately although Houston exhibited more pronounced weakening.
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May 16, 2016