About the TWEE
The COVID-19 pandemic-induced economic slowdown is in many ways more like a natural disaster than a typical recession. Job losses have been swift and deep but do not appear to be entirely long-lasting.
In this environment where economic conditions change very quickly and can reverse with the spread of the virus, tracking the Texas economy requires a timelier indicator than standard quarterly and monthly economic measures.
The TWEE is a timely tool to monitor evolving economic conditions and provides an indication of developments while awaiting release of the U.S. Bureau of Labor Statistics’ establishment survey, to which Texas employers report the number of workers on their payrolls.
The latest TWEE data should help the public anticipate what official releases will subsequently show and aid in the planning of responses to the rapidly evolving economic conditions.
The TWEE was developed by Jesus Cañas, senior business economist; Carlee Crocker, research analyst; and Keith Phillips, assistant vice president and senior economist at the Federal Reserve Bank of Dallas.of Dallas.