The newly revised data on Houston employment paint a picture of local recession that is little changed from the original estimates. Metro job growth peaked in mid-2009 and has fallen by just over 3 percent—or nearly 90,000 jobs—since mid-2008. However, oil services and manufacturing, which provide many of Houston's best-paid jobs, declined considerably further than the original estimates.
Texas employment expanded slightly in January, and export growth continued in the fourth quarter of 2009. The energy sector continues to improve as prices pick up. Texas house prices edged up in the fourth quarter of 2009, and housing starts rose nearly 9 percent in January. Texas factory activity expanded further in February.
On March 8, 2010, the Federal Reserve conducted an auction of $25 billion in 28-day credit through its Term Auction Facility. The results of the auction are listed on the Board's website.
The Federal Reserve System's latest Beige Book survey has been released. The Dallas Beige Book, along with a link to the national summary and reports from other Federal Reserve Districts, is available online.
As part of its recognition of the first decade of the euro, the European Commission has joined with the Federal Reserve Bank of Dallas to invite economists and scholars from the United States and Europe to discuss some of the results of this monumental change in the global economy.
The ESP Conference is a one-day undergraduate economics research conference. The event provides students the opportunity to share and gain feedback on their original research. It not only provides a forum for students already doing research but also aims to inspire others to create and pursue their own research agenda.
At this conference, leading scholars will present their studies of consumers' sometimes irrational behavior when making financial decisions, with particular focus on low- to moderate- income consumers.
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