Unemployment numbers point to various other difficulties within the economy in the midst of the COVID-19 pandemic.
While some are drawing comparisons between current unemployment numbers and those of the Great Depression, Dr. Perryman explains that there are fundamental differences in the two situations.
Employers added 266,000 jobs in November and unemployment falls to a 50 year low.
The Texas Workforce Commission's June employment report shows employers added 45,000 jobs. Dr. Perryman calls the results quite encouraging.
Can a state's unemployment rate actually fall too low? According to Dr. Perryman, we are learning that the answer is yes, it can.
The Labor Department says employers added 263,000 jobs in April while the unemployment rate fell to a five-decade low of 3.2%.
President Trump inherits an economy with an unemployment rate of 4.8% with the addition of 227,000 jobs in January.
May was another solid month for the Texas job market, with the state posting by far the largest gain across the nation (+74,200), well above California (+42,900) and New York (+26,800). Texas was also near the top in percentage increase, an unusual feat for such a large state.
It is no exaggeration to say that I have seen millions of numbers every week since the late 1970s (comments regarding my social life are neither encouraged nor welcomed). On those rare occasions when one startles me, I can't help but mention it.
Texas recently opted out of federal unemployment compensation related to the COVID-19 pandemic, including the $300 weekly supplement. The reason often given is that there are as many job openings as there are Texans receiving benefits, with the implication being that people will now be more eager to enter the workforce.