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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 unemployment rate was 5.4% in October 2021. (Texas Workforce Commission)
  • Texas gained 56,600 nonfarm jobs over the month of October 2021, marking gains in 16 of the last 17 months. (Texas Workforce Commission)
  • Texas gained 69,500 private jobs over the month of October 2021. (Texas Workforce Commission)
  • Texas has added back nearly 1.4 million jobs since peak pandemic impact, equating to a 96.3% recovery rate. (U.S. Bureau of Labor Statistics)
  • The Texas workforce was 14.2 million as of October 2021. (U.S. Bureau of Labor Statistics)
  • Texas factory activity expanded in October 2021 with a reading well above average and indicative of solid output growth. (Federal Reserve Bank of Dallas)
  • The pace of growth in the Texas service sector picked up in October 2021. (Federal Reserve Bank of Dallas)
  • Retail sales activity declined in October 2021 after two months of growth, but remains higher than the pandemic low point. (Federal Reserve Bank of Dallas)
  • In October 2021, there were more than 30 new project locations announced in Texas by various news sources. The projects are expected to create $328 million in capital investment and 591 new jobs. (EDT Research)
  • State sales tax revenue for October 2021 totaled $3.4 billion, up 25.2% compared to the same month last year. (Texas Comptroller's Office)
  • The week ending October 30, 2021, Texas saw 15,069 unemployment claims, which continues to be lower than the highest spike in April 2020. (Texas Workforce Commission)
  • Travel recovery has exceeded national averages throughout the pandemic. (US Travel Association)
  • The Leisure & Hospitality sector gained 7,600 jobs in September 2021. Since the pandemic low point, more than 466,000 jobs have returned to the sector. (Texas Workforce Commission)
  • In August 2021, Texas exports totaled $33.3 billion, increasing by 3% from July. (USA Trade)