Perryman Group: Job growth for McAllen MSA will increase by 2.10 percent per year thru 2028

WACO, Texas – For the McAllen-Edinburg-Mission MSA, The Perryman Group projects that about 34,100 wage and salary jobs will be added by 2028, representing an annual rate of increase of 2.10 percent.

MSA stands for metropolitan statistical area. The McAllen-Edinburg-Mission MSA, which is designated by the U.S. Department of Commerce, covers all of Hidalgo County. 

The job growth projections for the McAllen-Edinburg-Mission MSA are contained within the most recent Perryman Economic Forecast for the U.S. and Texas. The forecast calls for growth through 2028, though the path will likely be somewhat uneven.

Dr. M. Ray Perryman, president and CEO of The Perryman Group, said the Texas economy continues to perform better than other areas, adding jobs month after month. 

“The dynamic Texas economy is generating opportunities for individuals and businesses alike,” Perryman said. 

“The state is not immune to the national situation, and our largest export sector – oil and gas – is highly sensitive to global demand. Even so, Texas is well positioned for the future, with an expanding workforce due to both our demographic situation and by attracting in-migration from other states.”

An estimated 1.6 million net new wage and salary jobs are expected for the Texas economy by 2028, a 2.17 percent annual rate of expansion during the period, according The Perryman Group.

As for the national picture, Dr. Perryman said output (real gross product) in the U.S. is expected to grow at a 2.65 percent annual pace, reaching a level of $23.3 trillion in 2028. Some 13.9 million net new jobs are forecast to be added, bringing total 2028 employment to 170.0 million.

“The U.S. economy has shown remarkable resilience, continuing to expand in spite of major challenges. It appears as if the Federal Reserve will be able to reduce target interest rates in the months to come, which will provide a boost to a number of industries from housing to banking,” Perryman said.

“The biggest risk as I see it is a major escalation in the war in the Middle East, Russia-Ukraine, or one of the other hot spots. Barring such a shock to the global economy, prospects for expansion are good. There are challenges with regard to commercial real estate loans, but they should be manageable.”

The Perryman Group, based in Waco, Texas, has served the needs of over 3,000 clients over the past four decades. Its in-house professionals provide expertise in economics, finance, statistics, mathematics, real estate, systems analysis, technical communications, and marketing. 

Dr. Perryman has more than 40 years of experience in developing systems, analyzing complex problems, and communicating effectively.

Editor’s Note: More information about The Perryman Group’s latest forecast for the U.S. and Texas is available at www.perrymangroup.com.

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