Texas, Crossroads economy is strong
Feb. 11, 2018 at 10:30 p.m.
The Texas economy saw strong job growth in the fourth quarter of 2017 and is headed into the new year with momentum.
State employment increased by about 3.7 percent in the fourth quarter, with gains across industries, according to the Federal Reserve Bank of Dallas. The bank's Texas Employment Forecast calls for 2.8 percent growth in 2018.
The state saw an increase in economic activity related to Hurricane Harvey recovery efforts, according to a Dallas Fed news release. While that surge slowed at the end of the year, the state continues to benefit from oil prices above $60 per barrel, rising exports, business optimism stemming from the new federal tax law and strength in the U.S. economy.
The hurricane displaced hundreds of workers in the Crossroads, said Carmen Herrera-Lara, Workforce Solutions Golden Crescent operations manager. The agency has been helping place displaced workers in job since and has been subsidizing employment through a Texas Workforce Commission grant.
"We're rebuilding the community through these efforts together with business and other agency partners," she said. "The economy is better now in this area. There are jobs for people to go to. We're not where we need to be, but we're on the path to getting to where we were and even better."
The Crossroads community has learned a lot through the adversity of the hurricane, Herrera-Lara said.
"Collaboratively through grants, through partners, community agencies and individual supporters, the community is getting back on our feet," she said. " With the caring efforts that people have for each other in our community, we will be even better in time."