Overview: The Texas Workforce Commission recently released the Texas jobs report for July 2020. The report highlights improvements in the state’s labor market but there are challenges to get back to its peak in February 2020, which was before the COVID-19 pandemic and subsequent lockdowns of society by state and local governments. Texas’s private employment in July during the government-induced recession due to COVID-19 is at the lowest level since December 2016.
Details: The Texas labor market has improved in recent months but remains below February highs. The following information provides data to compare the following: 1) June 2009 was the dated trough of the last U.S. recession, 2) February 2020 was the dated peak of the last U.S. expansion, 3) April 2020 is the low for most labor market data, and 4) July 2020 is the latest period available.