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Texas Economic Snapshot

Texas continues to lead the nation in an economic resurgence and remains one of the strongest and most diverse economies in the nation. Below is a snapshot of the state's economic status:

  • Texas unemployment rate is 4.1%. (Texas Workforce Commission, August 2022)
  • Texas added 16,400 nonagricultural jobs in August, setting a new employment high for the tenth consecutive month with 13.53 million total jobs. (Texas Workforce Commission)
  • Texas job recovery rate since peak pandemic impact is 139%. (EDT Analysis, August 2022)
  • The Texas workforce continues to grow, now at 14.6 million. (U.S. Bureau of Labor Statistics, August 2022)
  • Texas manufacturing activity abated in August, but continues to stay much higher than the pandemic low point. (Federal Reserve Bank of Dallas)
  • Activity in the Texas service sector increased in August. (Federal Reserve Bank of Dallas)
  • Texas retail sales declined in August, but at a slower pace than in July. (Federal Reserve Bank of Dallas)
  • In August, there were 40 new project locations announced in areas across Texas by various news sources. The projects are expected to create $1.26 billion in capital investment and 2,5800 new jobs. (EDT Research)
  • Unemployment claims continue to stay lower than the pandemic low point. The week ending August 27 saw 13,411 claims filed in Texas. (Texas Workforce Commission)
  • State sales tax revenue for August totaled $3.77 billion, up 13% compared to the same month last year. (Texas Comptroller of Public Accounts)
  • In July 2022, Texas exports totaled approximately $42.74 billion. (USA Trade)
  • Record breaking hotel revenues were recorded across Texas in Summer 2022 driven by leisure travel demand and higher average daily rates. (STR)