Fed Weighs In On North Texas Economy

(Dallas, TX) — The Dallas Federal Reserve Bank is offering some observations about the North Texas economy.

Demand is strong for durable goods such as appliances, cars, and computers. Some manufacturers say they can’t keep pace with demand.

Employers are having trouble finding employees. Some blame the generous unemployment benefits, but the competitive labor market is driving up pay rates. Materials such as lumber and wiring are higher in price because of supply problems, leading to higher homebuilding costs.

Apartment rents in North Texas are up, but demand for office space is weak because more people now work from home.