Dallas Fed: Jobs Grow In June, But Slower Than May

Job growth O.K. unless you’re in I.T. in which case you’re S.O.L.

Dallas’s economic growth moderated somewhat in June, as its business-cycle index rose 2.4 percent after 3 percent growth in May. Most sectors experienced moderate gains in payroll employment, adding a total of 2,600 jobs. The bulk of these gains came in the services sector. Consistent with previous months, the trade, transportation and utilities sector led the way, with robust gains in retail trade. The education and health sector, boosted by hospital construction and expansion, added 1,400 jobs. Construction employment ticked up despite increases in home inventories and declines in single-family permits. Commercial construction activity was boosted, in part, by road construction and a $66 million project at D/FW airport. The information sector continues to record job losses as high-tech service firms continue to restructure.

Full report here.

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