Texas job growth slows
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Raise your hand if you feel personally victimized by work.
- Actually, don't do that. American CEOs don't want to hear it.
Why it matters: The job market is shrinking, managers are penalizing workers for unplugging after hours and employee burnout is rising.
- The trifecta has led to the latest workplace buzzphrase: "quiet cracking."
The big picture: Americans are about as pessimistic about the current job market as they were during the Great Recession.
- Texas has been somewhat insulated with a lower unemployment rate (4%) than the national average (4.2%).
Zoom in: The unemployment rate ticked up in every Texas metro in July compared to June, according to the latest jobs report.
- The state added jobs last month but at a slower rate than the beginning of the year.
- The Federal Reserve Bank of Dallas lowered its forecast last month for how much Texas jobs will grow in 2025.
Friction point: Workers won't find comfort in the C-suites. CEOs are looking to reset workplace culture — emphasizing productivity and speed over flexibility and work-life balance, writes Axios' Eleanor Hawkins.
The bottom line: Gov. Greg Abbott continues to celebrate Texas' top job growth in the U.S., but that surge is slowing here just like everywhere else.