The Texas economy‘s recovery is still on a solid path, but the pace of growth has slowed since March, economists from the Federal Reserve Bank of Dallas said.
Labor shortages and supply-chain woes are two main factors contributing to the slowing growth based on this May’s numbers, senior business economist Laila Assanie and research analyst Carlee Croker said in a Thursday report.
“The Texas economy is on the path to a solid recovery, although the pace of growth has slowed due to supply-side issues, such as difficulty finding workers, and wide-scale shortages of materials,” Assanie said.
The report found that other indicators, like unemployment claims and consumer spending along with daily COVID-19 cases, still show continuing improvement.
The Federal Reserve Bank of Dallas released May employment numbers last Friday, with Texas adding 26,100 jobs in May and dropping its unemployment rate from 6.7% to…