WACO, Texas (KXXV) — New numbers were just released, showing unemployment has increased in Waco. 25 News talked to a jobs analyst to find out why. Graphs released by the U.S. Bureau of Labor Statistics show a .3% increase in Waco unemployment in 2024 over the previous year.
Economic analyst Thomas Fellows weighs in on the statistics.
“That’s not a good thing. Who knows why? I would urge viewers to remember the economy is cyclical," Fellows said.
Another graph shows a significant drop in Waco employment by the primary industry sector.
“That’s not good. It could have been because of Biden’s regulations," Fellows said, looking at the state numbers released by the Texas Workforce Commission, there is a 2.545 increase in jobs from 2023 to 2024.
That’s 3,425 new jobs in the state.
“Many jobs are coming from California, which isn’t as business-friendly," Fellows said. "So kudos to Governor Abbott for making a business-friendly state."
Fellows also says the AI boom will likely impact jobs, leading to a job loss due to animation taking over.
