|
MRT (free): Slower TX Job Growth in 2025? // 3.6K Troops Now on Border // UT MBA Scholarships Endowed // Abbott: Block End Run Property Tax Increases
Here's What You Need to Know in Texas Today.
|
| |||||||||||||||
 |
MustReadTexas.com – @MustReadTexas
BY: @MattMackowiak
Subscribe to the daily email here
MONDAY || 2/10/25
Good Monday mid day.
Thank you for reading as a FREE subscriber.
» Become a PAID subscriber here for $7/mo or $70/yr and SAVE TIME and be BETTER INFORMED.
“If something of importance is known in Texas, Matt knows it. With a decline in the number of credible news organizations, the Must Read Texas morning email is indispensable for anyone that wants to continue to be informed.” – Former U.S. Senator Phil Gramm (R-TX)
AUSTIN NEWSLETTER LAUNCHED
Are you one of the 100,000+ subscribers to ATX Pulse, a newsletter that delivers EVERYTHING you NEED TO KNOW about Austin?
 |
Subscriptions are $5/mo, $50/yr or $199/lifetime here: ATXpulsepremium.com.
> Read today's FREE subscriber email here.
> Become a PAID subscriber for $5/mo or $50/yr here.
TOP NEWS
“Texas poised for slower job growth this year, Dallas Fed projects,” Texas Tribune's Joshua Fechter — “Texas will likely add jobs at a slower pace in 2024 after years of robust employment growth, the Federal Reserve Bank of Dallas said Friday.
The state will add nearly 284,000 jobs this year, a 2% increase from 2023, the Dallas Fed projects — a pace that’s in line with the state’s job growth rate before COVID-19 hit and the state’s economy kicked into overdrive. By year’s end, Texas employment will hit 14.4 million jobs.
By contrast, Texas added about 427,000 jobs in 2022 at a pace of 3.1% — the result of a rapidly growing labor force fueled by strong domestic and international migration.
“We're cleared for landing, landing back to our long run trend rate of growth,” Pia Orrenius, Dallas Fed vice president and senior economist, said Friday.
Still, Texas outpaced the nation as a whole in job growth last year and ranked fifth among U.S. states in the number of jobs added, behind Wyoming, Idaho, South Dakota and Nevada. Each of the state’s 25 metropolitan areas saw economic growth. Tech, hit with widespread layoffs last year, was the only sector that saw job losses in the state.
“Texas’ 2023 job growth exceeded expectations, pointing to the resiliency of the labor market,” said Luis Torres, Dallas Fed senior business economist.
There are other bright spots in the state’s economy, according to the Dallas Fed. Texas oil and gas production surpassed pre-pandemic peaks in 2023, Orrenius said, and the sector continues to add jobs.
Despite high interest rates, single-family home construction remained above pre-pandemic levels in 2023 — though building permits for single-family homes fell by more than 5%. Homebuilders are building smaller homes in order to keep costs down and ultimately provide less expensive buying options to homebuyers, Orrenius said.
Growth in apartment rents slowed in 2023 after years of significant increases in asking rents in the state’s major metros, Orrenius said — the result of an apartment building boom in the pandemic era. Rents fell last year in places like Austin and the Dallas-Fort Worth region that previously saw a surge in rents.
Some headwinds could complicate the state’s job growth this year. After months of decline, inflation began to creep up in Texas toward the end of 2023, diverging with the rest of the country. Growth in the state’s sales tax revenue slowed, indicating that consumers are spending less. Fears of a potential recession among business owners have waned, but many worry that geopolitical and domestic uncertainty surrounding the 2024 presidential election could dampen their business and harm the state’s economy, Orrenius said.
The Texas office market could also be a trouble spot for the state’s overall economy. Despite having some of the highest return-to-office rates in the country, Texas’ largest metros are grappling with high office vacancies — creating uncertainty in the commercial real estate market." Texas Tribune
TOP NEWS
AP: “More active duty troops will head to US-Mexico border, bringing the total to 3,600” AP
ABJ: “Houston philanthropist Mindy Hildebrand gives $20M to University of Texas” ABJ ($)
TX TRIB: “Texas reports new measles outbreak in West Texas” Texas Tribune
#TXLEGE
TX TRIB: “Gov. Greg Abbott wants to set a high bar for local tax increases” Texas Tribune
DMN: “How will Gov. Abbott's priorities impact career training programs in Texas' high schools?” DMN ($)
LOCAL GOVERNMENT
HOU CHRON: “Harris County sues Crosby wastewater treatment facility” Houston Chronicle ($)
SA REPORT: “Bexar County wants $60M from state to repurpose old mental health hospital” SA Report
TRUMP ADMINISTRATION
HOU CHRON: “What to know about ICE deportation raids in Texas” Houston Chronicle ($)
TEXANS IN DC
DMN: “Sen. John Cornyn, with 2026 primary looming, gives Trump an A” DMN ($)
HOU CHRON: “Republicans push feds to reimburse Texas for $11B border crackdown” Houston Chronicle ($)
BUSINESS NEWS
HOU CHRON: “CenterPoint Energy files $5.75 billion resiliency plan” Houston Chronicle ($)
HOU CHRON: “Houston clean hydrogen startup Syzygy announces sweeping layoffs” Houston Chronicle ($)
NEWS FROM AROUND THE STATE
> HOU CHRON: "AG Ken Paxton appeals after federal judge rules SCOPE Act is in part unlawful" HOU CHRON
> TX TRIB: "Spring forward? Maybe not in Texas as lawmakers mull ending daylight savings time." TX TRIB
> AP: "Trump is signing up local law officers to help with immigration enforcement" AP
> FWST: "Man upset by fight with girlfriend randomly shoots at kid’s birthday party, TX cops say" FWST
> HOU CHRON: "Shooting death of Lamar CISD educator under investigation" HOU CHRON
> DMN: "Dallas Mavericks are not moving to Las Vegas, Patrick Dumont says" DMN
> FWST: "Man who broke into ex-girlfriend’s apartment is shot and killed in Fort Worth, police say" FWST
> DMN: "Arlington pastor stays silent on death penalty after Steven Nelson’s execution" DMN
> FWST: "1 person cut and 1 shot during fight at west Fort Worth apartments, police say" FWST
> COMMUNITY IMPACT: "Q&A: Gov. Greg Abbott details plans to slow property tax growth, reinforce power grid" COMMUNITY IMPACT
> COMMUNITY IMPACT: "Interventional therapies offer hope to patients with chronic pain" COMMUNITY IMPACT
> COMMUNITY IMPACT: "Simon Paschal guides business owners from concept to expansion with essential legal support" COMMUNITY IMPACT
> COMMUNITY IMPACT: "Patients at Baylor Scott & White Medical Center – Grapevine receive support through every step of weight loss journeys" COMMUNITY IMPACT
> KXAN: "WATCH: Xavier Worthy makes Texas Longhorns history with TD in Super Bowl" KXAN
EXTRA POINTS
Last weekend's Texas sports score:
Fri
> NBA: Charlotte 117, San Antonio 116
> NHL: Los Angeles 5, Dallas 4
Sat
> NBA: Dallas 116, Houston 105
> NBA: Orlando 112, San Antonio 111
> NHL: Dallas 8, San Jose 3
> NCAAM: #5 Houston 69, Colorado 69
> NCAAM: #8 Iowa State 82, TCU 52
> NCAAM: #10 Texas A&M 67, #15 Missouri 64
> NCAAM: #20 Arizona 82, #13 Texas Tech 73
> NCAAM: Vanderbilt 86, Texas 78
> NCAAM: Baylor 91, UCF 76
> NCAAM: North Texas 76, Tulane 66
> NCAAM: Charlotte 78, Rice 75
> NCAAM: Sam Houston State at Liberty
> NCAAM: Nicholls 81, East Texas A&M 65
> NCAAM: Utah Valley 81, Tarleton State 56
> NCAAM: East Carolina 80, UT-Arlington 79
> NCAAM: Houston Christian 81, New Orleans 68
> NCAAM: Central Michigan 85, Texas State 70
> NCAAM: Bethune-Cookman 85, Prairie View A&M 82
> NCAAM: Stephen F. Austin 78, Texas A&M-Corpus Christi 64
> NCAAM: Florida A&M 66, Texas Southern 64
> NCAAM: SE Louisiana 71, Incarnate Word 66
> NCAAM: Lamar 70, UT-RGV 68
> NCAAM: Seattle 67, UT-Arlington 65
> NCAAM: East Carolina at UTSA
> NCAAM: Abilene Christian 84, Southern Utah 70
> NCAAM: UTEP 66, New Mexico State 63
Sun
> NBA: Houston 94, Toronto 87
Tonight's Texas sports schedule:
> 6pm: NBA: San Antonio at Washington
> 6pm: NCAAM: East Texas A&M at McNeese (ESPN+)
> 6:30pm: NCAAM: East Texas A&M at McNeese (ESPN+)
> 6:30pm: NCAAM: UT-RGV at Stephen F. Austin (ESPN+)
> 6:30pm: NCAAM: New Orleans at Incarnate Word (ESPN+)
> 7pm: NCAAM: SE Louisiana at Houston Christian (ESPN+)
> 7pm: NCAAM: Texas A&M-Corpus Christi at Lamar (ESPN+)
> 7pm: NCAAM: Bethune-Cookman at Texas Southern (ESPN+)
> 7:30pm: NBA: Sacramento at Dallas
> 8pm: NCAAM: Baylor at #5 Houston (ESPN)
DALLAS COWBOYS: "3 things the Dallas Cowboys must do to become Super Bowl contenders" DMN ($)
HOUSTON ASTROS: "Houston Astros: Key questions facing team as spring training begins" Houston Chronicle ($)
DALLAS MAVERICKS: "Anthony Davis is out with groin strain for second game with Mavs amid reports of longer absence" AP
DALLAS MAVERICKS: "Mavs' Patrick Dumont makes first public comments on Luka Doncic trade" DMN
HOUSTON ROCKETS: "Houston Rockets: Losing streak ends with late comeback vs. Raptors" Houston Chronicle ($)
SAN ANTONIO SPURS: "3 takeaways as Spurs drop another heartbreaker to Orlando Magic" SAEN ($)
HOUSTON MEN'S BASKETBALL: "UH basketball: Cougars begin tough stretch against Baylor" Houston Chronicle ($)
TEXAS MEN'S BASKETBALL: "Texas vs Vanderbilt: UT drops 2nd straight game as Commodores rally for home win" AAS ($)
TEXAS WOMEN'S BASKETBALL: "No. 4 Texas knocks off No. 2 South Carolina to forge 3-way tie atop SEC standings" AP
SMU ATHLETICS: "A look at potential candidates for SMU's athletic director opening" DMN ($)
| ||||||||||
