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)