Despite worries of a national recession, Texas’ robust labor force and strong energy sector could help it fare relatively well in a potential 2023 slowdown.
Construction in downtown Austin's warehouse district in 2017. Texas led the nation in new jobs last year, which could help it better weather an economic slowdown in 2023., The Texas Tribune’s daily newsletter that keeps readers up to speed on the most essential Texas news.
After two years of fast economic growth, Texas is poised to see a “soft landing” in 2023, according to a senior economist at the Federal Reserve Bank of Dallas. Texas has seen “mounting” signs of an economic slowdown in the last few months — such as slower inflation and job growth — even as the statelast year, labor economist Pia Orrenius said. Coming into 2023, there’s worry of an impending recession as the Federal Reserve tries to tame national inflation. Still, Texas is likely to see a 1.
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