HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Texas unemployment rate r...

Sun Oct 18, 2020, 12:25 PM

Texas unemployment rate rises to 8.3% in September, seven months into economic recession

Even though Gov. Greg Abbott's has pursued a policy of rapid business reopenings during the pandemic, the state's unemployment rate jumped to 8.3% in September. I still think that Texas will probably go for Trump, particularly since the Governor has taken such an aggressive approach to limiting ballot drop offs in Democratic leaning areas. For example, Harris County a county of 4 million people has one drop box, but a small red county of less than 500 people gets a drop box.

https://www.texastribune.org/2020/10/16/texas-unemployment-rate-increase/

The Texas unemployment rate rose to 8.3% in September, the Texas Workforce Commission said Friday, surpassing the national unemployment rate of 7.9% and returning the state to the unemployment levels of the Great Recession.

While the national unemployment rate declined, the state’s sharp increase from the seasonally adjusted August unemployment rate of 6.8% shows how some industries that had hoped to weather the coronavirus pandemic’s economic recession have not been able to do so, economists said, and instead have announced large numbers of layoffs. The number Friday also shows that a lot of Texans are jobless seven months into the pandemic despite widespread business reopenings across the state.

Friday’s announcement provides what could be the clearest snapshot of the Texas economy ahead of the Nov. 3 election. Peter Rodriguez, dean of the Jesse H. Jones Graduate School of Business at Rice University, called the increase “evidence that we didn’t take the short route out of the recession.” “We’re going to be here for a little while," he said.

The airline industry has been particularly hard hit in recent weeks. That sector laid off tens of thousands of people as the travel industry continues suffering during the prolonged pandemic, according to The Washington Post. American Airlines is based in Fort Worth, Southwest Airlines is based in Dallas and United Airlines counts Houston as one of its hubs.

0 replies, 218 views

Reply to this thread

Back to top Alert abuse

Reply to this thread