The Texas economy continues to soar, outperforming the U.S. economy as a whole with its 36th consecutive month of growth. In March 2024, Texas added a record 7,300 jobs in leisure and hospitality, as well as thousands in mining, logging, and other services. The state’s unemployment rate remained stable at 3.9%, compared to 4% in March 2023. Texas’ annual job growth rate of 2% far surpasses the national rate of 0.1%. In the fourth quarter of 2023, Texas experienced a 5% GDP growth rate, one of the fastest in the nation. This robust economic growth has come during a time of significant tensions between state authorities and the Biden administration, particularly over how to handle illegal immigration. However, Texas Governor Greg Abbott has remained steadfast in his commitment to the state’s economic success, highlighting the strength of its workforce, welcoming business climate, and strategic investments in education and infrastructure. Texas Workforce Commission Chairman Bryan Daniel attributed the state’s economic success to its top-notch workforce and attractive business environment. TWC Commissioner Representing Employers Joe Esparza emphasized Texas’ ability to attract global employers due to its skilled workforce and strong community partnerships. Governor Abbott’s Operation Lone Star, launched in 2021 to combat illegal crossings, has resulted in the apprehension of more than 300,000 individuals. Despite ongoing debates about border security, Texas remains committed to maintaining a strong economy and providing opportunities for its citizens.
Texas Economy Outperforms Nation with Record Job Growth and GDP Expansion
