Economic Growth Seen in Greater Waco Despite Fluctuating Unemployment Data | Local News
Todd Stoner, strategist at Waco’s Disciplined Investors, said he was not prepared to throw overboard the economic gains that have been enjoyed locally and nationally.
“I don’t think it’s going to short out the recovery, although it might complicate things,” Stoner said. “The Delta variant is definitely more contagious, and some precautionary measures may have to come back – shutting down the economy, forcing people to wear masks, moving further away. It creates an interesting scene. Some vaccinees may not think they should follow directions. Those who are not vaccinated may not follow them either. “
Inflation is another factor to watch, Stoner said.
“Higher inflation is generally bad for stocks and bonds,” he said. Fed Chairman (Jerome Powell) said there had been a bigger increase than expected. There has been a lot of debate, and some suggest the Fed is behind the curve, allowing inflation to rise. The Fed believes this is a transitional peak that will subside when supply issues are resolved. “
Statewide, the seasonally adjusted unemployment rate in Texas fell from 6.6% in May to 6.5% in June. It added 55,800 nonfarm jobs month to month.
“Texas is open for business and we continue to create jobs,” Texas Workforce Commission chairman Bryan Daniel said in a press release.