/Tag: Energy

July Job Cuts Reach Highest Level In 4 Years, Texas Still Leads Nation By Wide Margin In 2015

Challenger Gray & Christmas released their July job cut report, and it appears employment cutbacks revved up again during the month of July. Challenger reports there were 105,696 job cuts in July, the highest one-month total in 4 years. What was surprising in the latest report was that more than half of the July cuts came from the U.S. Army via troop and civilian workforce reductions. What's not surprising in the latest report is that Texas still leads the nation for layoffs this year by a wide margin. With oil prices flirting with a new [...]

By | 2015-08-06T14:00:14+00:00 August 6th, 2015|Economy, Energy & Utilities, Spin Cycle, Texas Employment|0 Comments

Dallas Fed: Texas Manufacturing Activity Still Contracting In June

Today the Dallas Fed reported that Texas manufacturing activity continues to contract. The Texas Manufacturing Outlook Survey for June was a continuation of previous reports this year noting a declining manufacturing sector in the Lone Star state. The production index posted at a negative 6.5, a fourth consecutive month of declining output in Texas. While the pace of decline has slowed, the June numbers show that Texas manufacturing activity continues to shrink. Here is a brief summary of the manufacturing numbers for June... Production Index: -6.5 Capacity Utilization: -6.1 Shipments: -8.8 New Orders: -10.3 Growth [...]

Texas Employment Decreases By 25,400 Jobs In March In First Employment Decline Since 2009

You knew it was only a matter of time, but the 53-month streak of successive employment gains for Texas ended in March. The Texas Workforce Commission reported that Texas shed 25,400 jobs in March in what was the first employment decline since 2009. With the Texas rig count down 53 percent year-over year, this announcement was inevitable. Contrary to what many economists have tried to downplay, the huge loss of jobs seen in the energy sector also affects other employment that is marginally attached to all of that economic stimulus resulting from the recent energy [...]

By | 2017-12-22T02:38:38+00:00 April 19th, 2015|Economy, Energy & Utilities, Markets, Texas Employment|0 Comments

Dallas Fed – Texas Manufacturing Activity Continues To Weaken

The March readings for manufacturing activity in Texas showed continued weakness in the Lone Star State. Readings from the March report show that the Texas production index posted at -5.2, the first negative reading in two years. Other measures of manufacturing activity were negative in March as well. The general business activity index declined 6 points to -17.4. The hours worked index posted at a -5.3. The finished goods index prices index fell to -9.8. Altogether it was a pretty miserable report for Texas manufacturing activity with numbers posting at post-recession lows. Remember how low [...]

Financial Repression – Interview With Dr Lacy Hunt

This is a thoughtful interview on the subject of financial repression with Dr. Lacy Hunt of Hoisington Investment Management out of Austin Texas. Hunt is a former employee of the Dallas Federal Reserve and a former chief economist with one of the largest global banks (HSBC). Hunt has been following the policy errors of the Federal Reserve for years, and here he discusses the financial repression that is still gripping the global economy. As Hunt explains, monetary policy is not the solution for our global indebtedness. Global central banks have facilitated $35 trillion in new [...]

By | 2018-05-12T01:02:21+00:00 February 22nd, 2015|Economy, Energy & Utilities, Markets, Video|0 Comments

Canada’s Housing Market Bubble Pricked By Falling Oil Market

Canada's richly valued real estate market is starting to get pinched by the collapsing oil market. That's the news coming out of Calgary, and also confirmed the latest news from the Canadian central bank when they announced a surprise rate cut. Active listings in Calgary were up by a whopping 64 percent in December while pending sales dropped by an equally large 53%. In Layman's terms that's what you'd call a pretty dramatic market shift! Closed sales of existing homes in Calgary were down 24.6 percent in December according to the Canadian Real Estate Association. Today [...]

What The Oil Market Can Tell Us About Fed-Driven Asset Bubbles

For all of the talk about deleveraging in America, it's interesting to see that both the national debt and total credit market instruments tell a rather different story. That's because the Federal Reserve has been goosing the markets to keep them afloat while they exercise their undisclosed and primary mandate which is to keep the market from tanking and keep their friends in a job. If last week's market action wasn't telling enough, Jim Grant offered a bit of perspective on what's really going on. The problem with Fed-driven asset bubbles is that they always [...]

By | 2017-12-22T01:30:30+00:00 December 21st, 2014|Economy, In the Press, Markets, Politics, Real Estate, Spin Cycle, Video|0 Comments

Be Careful What You Ask For Houston: WTI Crude Breaks Below $61

Houston area drivers are probably rejoicing with the rapid fall in gasoline prices, but anyone who really understands the implications of the collapse in energy market is probably a little less sanguine. WTI crude oil briefly dipped below $61 per barrel this morning after the U.S. Energy Information Administration reported a rise in oil inventories of 1.5 million barrels in the week ended December 5. It probably didn't help that OPEC lowered its 2015 oil demand forecast. So far, U.S. drilling hasn't seen much of an effect, but things could change if oil prices don't [...]

By | 2014-12-10T16:14:18+00:00 December 10th, 2014|Economy, Energy & Utilities, Markets, Transportation|0 Comments

Geography Of Jobs – Energy Sector Drives Texas Employment Growth

This is an interesting state-by-state breakdown of the jobs recovery since the recession, provided by the Deloitte University Press. The energy and mining sector, not surprisingly, has bee the primary driver of job growth for those states seeing the best employment growth during the last 5 years, and Texas has led the way in that category in terms of absolute numbers. The report shows that only 16 states are at least one percent above their pre-recession employment levels. Texas, with the help of robust energy sector growth, has seen a 9 percent gain in employment [...]

Texas Falling Behind When It Comes To Solar Energy

When I think of Texas, I think of abundant sunshine and hot summers. Thus it's surprising to see that Texas, one of the biggest and most populous states, is lagging behind when it comes to solar energy infrastructure. A new study from the Environment California Research & Policy Center exposes how wide the gap really is between solar energy use in two of the most populous states. California had 5,661 MW of cumulative solar electricity capacity at the end of 2013, leading all states. Texas had only 201 MW of solar electricity capacity in comparison [...]

By | 2017-12-22T03:03:51+00:00 August 7th, 2014|Economy, Energy & Utilities|0 Comments