After ten straight interest rate hikes by the U.S. Federal Reserve, the hot jobs market that fueled ‘the great resignation’ may be coming to an end nationally and here in Texas.
New job numbers show the Texas unemployment rate increased in May. For the first time in history, Texas has 15 million civilians who either are or want to be in the workforce.
The Texas unemployment rate inched up in May to 4.1%, the highest since February 2022 and higher than the national unemployment rate of 3.7%."10,000 more unemployed this month, but nearly 40,000 more employed people," he said. "I think what we are seeing is people are entering or re-entering the workforce when they haven't been working full time. They are re-evaluating where they are and have a good opportunity to get the job they want.
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