Thousands gathered in for the 40th Economic Outlook event to hear Dr. Ray Perryman discuss the statewide, nationwide and local economy. Though growth has slowed somewhat in 2025, he’s optimistic for positive economic impact. (Katecey Harrell/ Tyler Morning Telegraph)

Dr. Ray Perryman, economist and CEO of The Perryman Group, one of the nation’s leading economic and financial analysis firms, presented his 40th annual Economic Outlook conference Thursday at the W.T. Brookshire Conference Center in Tyler.

“Glance around the room, the chairs, speakers, clothes, the carpet, the ceiling, everything from the walls to the ground. The output of more than 100 countries is in this room right now,” Perryman said. “We have a very complicated economy that’s hard to stitch together. That means pulling the thread in one place affects things in many other places.”

Thousands gathered to hear Perryman discuss the statewide, nationwide and local economy, East Texas industries, and economic effects on people’s daily lives.

Tyler metropolitan statistical area

According to an analysis by The Perryman Group, Tyler has experienced significant expansion, with gains across most industry groups. Growth was strong in the mining, logging and construction sectors and education and health services saw significant job growth over the past year.

“Tyler has done very well recently,” Perryman said. “If you go back from the month before the pandemic started until today, Tyler’s job growth has been about twice the national average.”

The Perryman Group predicts solid growth in the area over the next five years. The projected employment growth rate of 2.18% annually through 2028 is expected to exceed that of the nation and state. The sectors of health and social services, accommodation and food and professional and business services are expected to create the most significant number of new jobs.

State of Texas

The Texas economy has been performing exceptionally well, surpassing the growth rates of the rest of the U.S. The state has set new records in recent months for employment figures and the size of the civilian labor force.

The state has experienced growth across multiple industries, including a significant increase in oil and natural gas production and exports.

Texas is undoubtedly impacted by nationwide trends such as inflation, increased interest rates and scarcity of workers. Moreover, the state faces population and economic growth challenges, which require significant investment in education, healthcare and infrastructure.

Texas has been a top destination for corporate locations and expansions for over a decade. As a result, the state has experienced a significant influx of people from other states.

Although business cycles are bound to occur, these factors create a strong foundation for continued growth and success in Texas.

“I hope people can get a sense of how important the investments that have been made in this community, for the past 20 or 30 years, are paying off,” Perryman said. “I also hope to be able to communicate that the energy sector is changing a lot and will change even more in the future. But as a part of that, despite anything else you may read, we will be using fossil fuels for a long time.”