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Texas Economic Snapshot

Texas continues to be a global economic force 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 4.1%. (Texas Workforce Commission, February)
  • Texas added 20,100 nonfarm jobs over the month of February. (Texas Workforce Commission)
  • Texas reached a new historic high with the largest labor force ever in the state’s history at 15,770,300. (U.S. Bureau of Labor Statistics, February)
  • Texas reached a new historic high for Texans working, including self-employed, at 15,126,900. (U.S. Bureau of Labor Statistics, February)
  • Texas reached a new high for total nonfarm jobs at 14,254,200. (U.S. Bureau of Labor Statistics, February)
  • In March, there were 29 new project locations announced in areas across Texas by various news sources. The projects are expected to create $2.1 billion in capital investment and 5,750 new jobs. (EDT Research)
  • State sales tax revenue for March totaled $3.7 billion. (Texas Comptroller of Public Accounts)
  • In February, Texas exports totaled $36.5 billion. (USA Trade)
  • The Texas economy grew at a rate of 4.2% in Q3 2024, growing faster than the nation as a whole (U.S. Bureau of Economic Analysis)
  • The Texas economy is the eighth-largest when compared to nations of the world and is now valued at $2.6 trillion, based on GDP for 2023 (up from $2.4 trillion in 2022). (Bureau of Economic Analysis)