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 4.2%. (Texas Workforce Commission, November)
Texas added 9,100 nonfarm jobs over the month of November. (Texas Workforce Commission)
Texas led the nation for jobs added over the last 12 months, adding 274,300 nonfarm jobs from November 2023 to November 2024. (U.S. Bureau of Labor Statistics)
Texas reached a new historic high with the largest labor force ever in the state’s history at 15,536,100. (U.S. Bureau of Labor Statistics, October)
Texas reached a new historic high for Texans working, including self-employed, at 14,884,600. (U.S. Bureau of Labor Statistics, October)
In December, there were 20 new project locations announced in areas across Texas by various news sources. The projects are expected to create $26.4 million in capital investment and 483 new jobs. (EDT Research)
State sales tax revenue for December totaled $4.1 billion, 1% higher than the same month last year. (Texas Comptroller of Public Accounts)
In November, Texas exports totaled $38.78 billion, increasing by 3.7% from the month prior. (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)