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:
- The Texas unemployment rate is 4%. (Texas Workforce Commission, June)
- Texas added the most jobs in the nation over the last 12 months, adding 267,400 jobs from June 2023 to June 2024. (Texas Workforce Commission)
- Texas reached a new historic high with the largest labor force ever in the state’s history at a record 15,311,500. (U.S. Bureau of Labor Statistics, June)
- Texas reached a new historic high for Texans working, including self-employed, at 14,694,500. (U.S. Bureau of Labor Statistics, June)
- In June, there were 34 new project locations announced in areas across Texas by various news sources. The projects are expected to create more than $2 billion in capital investment and more than 1,570 new jobs. (EDT Research)
- State sales tax revenue for June totaled $3.9 billion, .4% higher than the same month last year. (Texas Comptroller of Public Accounts)
- In May, Texas exports totaled $38.6 billion. (USA Trade)
- The Texas economy again grew faster than the nation as a whole for the seventh quarter in a row, growing at a rate of 2.5% during the first quarter of 2024. (Bureau of Economic Analysis)
- The Texas economy is officially the 8th largest economy in the world, valued at more than $2.4 trillion. (IMF GDP 2022)