Fed shifts from inflation to employment: Good for Texas?

Prices have continued to rise in Texas.

Prices have continued to rise in TX

The rate of increase is slowing.

The rate of increase in CPI is slowing

Texas payrolls have continued to grow.

TX Payrolls have continued to grow

An inflection point may be near.

Inflection point in Texas employment may be near

U-rate step change in 2Q-24.

Texas U-rate step in change in 2Q-24

Growth slowing, 2Q-24 negative?

Texas economy slowing, 2Q-24 negative?

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1. Bureau of Labor Statistics series: CUURS37BSA0

2. All Employees: Total Nonfarm in Texas. Bureau of Labor Statistics series: TXNA

3. Real GDP Texas for 2Q-24 estimated from secondary sources.