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Texas Economic Snapshot

The Texas economy continues to recover from the impacts of the global pandemic and remains one of the strongest and most diverse economies in the nation. Below is a snapshot of the state's economic status:

  • Texas factory activity expanded in January, for the eighth month in a row. (Federal Reserve Bank of Dallas)
  • Service sector and retail sales activity remained stable in January. (Federal Reserve Bank of Dallas)
  • In January, there were more than 40 new project locations announced in Texas by various news sources. The projects are expected to create $1.88 billion in capital investment and 980 new jobs. (EDT Research)
  • In December, Texas exports totaled approximately $26.12 billion, up from $15.8 billion in May. (USA Trade)
  • Texas added 64,200 nonagricultural jobs in December. (Bureau of Labor Statistics & Texas Workforce Commission)
  • In December, the Texas unemployment rate fell to 7.2%, and continues to remain lower than the 13.5% spike in April. (Texas Workforce Commission)
  • In December, Professional & Business Services added 27,000 jobs, Trade, Transportation & Utilities added 20,100 jobs and Education & Health Services added 6,600 jobs. (Texas Workforce Commission)
  • Initial unemployment claims through the week ending January 30 continues to be lower than the highest spike in April. (Texas Workforce Commission)
  • The Texas workforce was 14.1 million in December, up from 13 million in May. (U.S. Bureau of Labor Statistics.
  • The low-point for hotel occupancy in Texas was 25% occupancy in mid-April, but it has since recovered to 40-45% through December. (STR, JLL)
  • Air passenger throughputs on November 29 were the highest since the start of the pandemic. (Tourism Economics and the U.S. Travel Association, STR, AirDNA, Transportation Security Administration)

  • 8 out of 10 American travelers have at least tentative leisure travel plans right now and two-thirds did some kind of travel planning activity in the first week of February 2021. There is a spike expected in leisure trips in the summer months of 2021. (Destination Analysts)