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San Antonio is among a few major metropolitan areas in Texas that will lead employment growth in 2025, according to a forecast issued on Monday by the Federal Reserve Bank in Dallas.
Jobs will increase at least 1.7% in Texas this year and maybe even a little higher. The previous forecast predicted an annual job growth rate of 1.5%.
“The broad-based acceleration of job growth in April was strong compared with soft growth in the first quarter,” said Luis Torres, a senior business economist in the San Antonio Branch of the Federal Reserve Bank of Dallas.
“Professional and business services led overall job growth followed by construction and manufacturing," said Torres. The only sectors that lost jobs last month were information services and other services, which include repair and maintenance and personal care jobs. Employment growth in major Texas metropolitan areas was led by San Antonio, El Paso and Austin.”
The forecast was based on four economic models following projected national GDP, oil futures prices, and the Texas and U.S. leading indexes.
The forecast reported more than 245,000 jobs will be added to the Texas workforce this year.
Total employment in the state by December could be around 14.4 million. The Texas unemployment rate was unchanged at 4.1% in April.
Unemployment in the San Antonio-New Braunfels region was down slightly. It was unchanged in Laredo, according to the report. But it was up slightly in April in the Austin-Round Rock, Brownsville-Harlingen, and Houston-The Woodlands regions, along with the Dallas-Fort Worth metroplex.
