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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)
  • In July, there were 24 new project locations announced in areas across Texas by various news sources. The projects are expected to create more than $20.1 billion in capital investment and 617 new jobs. (EDT Research)
  • State sales tax revenue for July totaled $4 billion, up 2.7% from the same period last year. (Texas Comptroller of Public Accounts)
  • Texas added 16,700 nonagricultural jobs in August, again setting more new records for total jobs, Texans working and labor force. (Texas Workforce Commission)
  • Texas added more jobs than any other state over the last 12 months, adding 402,000 jobs and growing at an annual rate of 3%, faster than the 2% rate for the nation as a whole. (Texas Workforce Commission, August)
  • Texas has added jobs for 30 consecutive months. (Texas Workforce Commission, August)
  • The Texas workforce is now more than 15.1 million. (U.S. Bureau of Labor Statistics, August)
  • Growth in the Texas service sector expanded at a faster rate in July. (Federal Reserve Bank of Dallas)
  • In June, Texas exports totaled nearly $35.6 billion. (USA Trade)
  • The Texas economy again expanded in the first quarter of 2023. The Texas economy has expanded faster than the nation as a whole four quarters in a row. (U. S. Bureau of Economic Analysis)