The unemployment rate in the state dropped by 4.3%. Texas has become the number one state in the U. S. to add more jobs this year according to The Dallas Morning News.
Texas gained 50% more jobs than last month, since April, 64,000 jobs have been added. According to the Texas Workforce Commission an increase in the employment rate is the best strategy to face the national economy.
The Federal Reserve Bank of Dallas has backed up this information with economic predictions for the state. According to this institution, jobs will increase by 3,2% in 2022, and 476,000 jobs will be added during the year. The employment increase is supposed to protect the local economy from the macroeconomic problems of the country.
Despite the great efforts to provide employment, Texas is still one of the states above the national average unemployment rate: 3.6%. The wave of jobs comes along with other national economic issues such as gasoline prices on the rise, supply chain issues, and recession fears, according to The Dallas Morning News.
With the arrival of the summer, the increase in jobs will be necessary to face the busy season. Labor supply will be required, according to a statement made by Taner Osman, research manager at Beacon Economics. Additionally, the rise in wages is encouraging people to turn out the pandemic fears and join the workforce again.