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:
Please note: The U.S. Bureau of Labor Statistics has revised previously posted 2023 monthly numbers as part of their annual benchmarking process.
- The Texas unemployment rate is 3.9%. (Texas Workforce Commission, February)
- Texas added 49,800 non-farm jobs in February. (Texas Workforce Commission)
- Texas added the most jobs in the nation over the last 12 months, adding 291,400 jobs from February 2023 to February 2024 and growing at an annual rate of 2.1%, the same rate for the nation as a whole. (Texas Workforce Commission)
- Texas reached a new historic high with the largest labor force ever in the state’s history at a record 15,169,200. (U.S. Bureau of Labor Statistics, February)
- Texas reached a new historic high for Texans working, including self-employed, at 14,578,700. (U.S. Bureau of Labor Statistics, February)
- Texas reached a new high for total jobs at 14,103,700. (U.S. Bureau of Labor Statistics, February)
- Texas has added jobs in 45 of the last 46 months. (Texas Workforce Commission, January)
- In February, there were 37 new project locations announced in areas across Texas by various news sources. The projects are expected to create more than $599 million in capital investment and more than 1,029 new jobs. (EDT Research)
- State sales tax revenue for February totaled $3.7 billion. (Texas Comptroller of Public Accounts)
- In January, Texas exports totaled $36.7 billion. (USA Trade)
- The Texas economy again grew faster than the nation as a whole for the fifth quarter in a row, growing at a rate of 7.7% during the third quarter of 2023. (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)