Texas Economic Recovery Slows, Adding 30K Nonfarm Jobs

(Austin, TX) — Texas’ economic recovery is slowing, but it’s still headed in the right direction.

Unemployment dropped to six-point-eight-percent with more than 30-thousand added nonfarm jobs in January. That’s fewer than half the jobs added the previous month. Economist Luis Torres says it’s no surprise, because at that point there was a resurgence in the virus and the stimulus was starting to dissipate.

He says February job numbers could be worse because of the winter storm. But “March is looking much better,” with the distribution of vaccines and the passage of the new stimulus package.