Texas’ unemployment rate rises to 8.1%

The job market had started to recover after the massive slump between March and May. However, with the rise in cases on again, things have started to look quite challenging once again. The unemployment rate in Texas jumped from 6.9% in October to 8.1% in November."There’s clearly evidence the Texas economy is under stress,” said Bernard “Bud” Weinstein, an economist at Southern Methodist University. “Partly, that’s because of the rising number of COVID cases and the continued layoffs in the oil patch. There’s also a low level of job creation and, at the same time, more people are looking for work.” To read more about this, click here.