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Posted on: March 28, 2022

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 4.7%. (Texas Workforce Commission, February 2022)
  • Texas added 77,800 nonagricultural jobs in February, marking gains in 21 of the last 22 months. (Texas Workforce Commission)
  • Texas job recovery rate since peak pandemic impact is 113.7%. (EDT Analysis, February 2022)
  • The Texas workforce is nearly 14.3 million. (U.S. Bureau of Labor Statistics, January 2022)
  • Growth in Texas manufacturing activity continued to improve, but at a slightly slower pace in February and the outlook continues to remain optimistic. (Federal Reserve Bank of Dallas)
  • The Texas service sector saw significant acceleration in February, picking up sharply. (Federal Reserve Bank of Dallas)
  • Texas retail sales rebounded in February, climbing back into positive territory. (Federal Reserve Bank of Dallas)
  • In February, there were more than 29 new project locations announced in areas across Texas by various news sources. The projects are expected to create $2.25 billion in capital investment and 3,659 new jobs. (EDT Research)
  • The week ending January 30, Texas saw 47,362 unemployment claims, which continues to be lower than the highest spike in April 2020. (Texas Workforce Commission)
  • Travel spending in Texas recovered at a faster rate than the U.S. for all of last year. (Dean Runyan Associates)
  • Travelers to and within Texas spent an estimated $76.6 billion in 2021. (STR)
  • State sales tax revenue for February totaled $35.49 billion, up 20.5% compared to last year. (Texas Comptroller of Public Accounts)
  • Texas exports totaled $35.42 billion in January, increasing by .2% from the month prior. (USA Trade)

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