The Economic Outlook for Texas and Its Major Metro Areas

May and June jobs reports for Texas and the state's largest metropolitan areas were encouraging and reflect the fact that as businesses began to reopen, what was essentially a sound economy before the pandemic responded relatively quickly. Nonetheless, employment remains well below pre-COVID-19 levels. The Perryman Group's latest forecast calls for significant year-over-year losses for 2020, but notable recovery next year. If additional interruptions are required as a result of the recent surge in cases, hospitalizations, and deaths in Texas, the annual declines will escalate.