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Economic Gains Likely to Tighten Job Market, Push Up Wages

Texas Business reports: Economic indicators released over the past two months present a picture of modest growth thus far in 2014. In its first estimate, second-quarter gross domestic product (GDP) growth came in at an annualized 4 percent, putting first-half average growth at 0.9 percent. Job gains decelerated slightly from June to July, but payrolls are still expanding at a healthy pace. Meanwhile, the unemployment rate increased slightly to 6.2 percent in July.

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Houston-area Diploma Mill Shut Down

Texas Business reports: HOUSTON—The Texas attorney general’s office resolved the state’s enforcement action against an “academy” that falsely claimed to be an accredited educational institution.

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Global Growth Outlook Weaker but Still Positive
Texas Business reports: The world growth outlook remains positive but has weakened slightly with recent data releases, especially in emerging economies. The International Monetary Fund (IMF) has reduced its forecast for 2014 global growth from 3.7 percent to 3.4 percent but kept its forecast for 4 percent growth in 2015 unchanged. Global risks include the expanding credit market in China, labor market slack and low inflation in the euro-area periphery, and the fledgling recovery in Japan. Full Story »
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Regional Economic Growth Builds Momentum

Texas Business reports: The regional economy picked up pace in the second quarter, with payroll employment growing at a faster rate than in the first quarter. The Texas Business Outlook Surveys (TBOS) point to an uptick in activity in June and July. The July Beige Book continued to note healthy growth and optimism in outlooks. A strong energy sector, brisk activity in commercial real estate and lower economic uncertainty all seem to be helping Texas.

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