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, March)
- Texas added 19,100 non-farm jobs in March. (Texas Workforce Commission)
- Texas added the most jobs in the nation over the last 12 months, adding 270,700 jobs from March 2023 to March 2024. (Texas Workforce Commission)
- Texas reached a new historic high with the largest labor force ever in the state’s history at a record 15,189,900. (U.S. Bureau of Labor Statistics, March)
- Texas reached a new historic high for Texans working, including self-employed, at 14,590,800. (U.S. Bureau of Labor Statistics, March)
- Texas reached a new high for total jobs at 14,115,700. (U.S. Bureau of Labor Statistics, March)
- Texas has added jobs in 45 of the last 47 months. (Texas Workforce Commission, March)
- In March, there were 56 new project locations announced in areas across Texas by various news sources. The projects are expected to create more than $1.98 billion in capital investment and more than 2,676 new jobs. (EDT Research)
- State sales tax revenue for March totaled $3.8 billion. (Texas Comptroller of Public Accounts)
- In March, Texas exports totaled $36.95 billion, increasing 0.6% from the month prior. (USA Trade)
- The Texas economy again grew faster than the nation as a whole for the sixth quarter in a row, growing at a rate of 5% during the fourth 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)