Texas strong: Economy remains resilient as oil prices fall 


Oil prices can't mess with Texas.

Some economists warned last year that Texas could slide into a recession in 2015 as oil prices tanked.

Last week, prices hit a 6-year low to $42, down from $100 a barrel a year ago.

But Texas added jobs in five of the first six months this year. The state's 4.2% unemployment rate has actually ticked down a little this year, and it's well below the nation's 5.3% rate, according to the Federal Reserve Bank of Dallas.

The dramatic decline in oil prices would have spelled trouble for the Lone Star State, 30 years ago. But this time, it's weathered the storm quite well.

Sure, energy companies in Texas have cut jobs as their profits are shrinking.

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August 26, 2015 Categories: Texas