Lone Star State Sees Job Numbers Surge
Texas reported record numbers of new jobs created in March 2024. According to data from the Texas Workforce Commission (TWC), last month was the 36th consecutive month of positive annual growth, as the state reached new highs in total employment and the size of the civilian labor force. Overall, the state has seen net job growth in 45 out of the last 47 months.
The state’s nonfarm employment rose by 19,100 in March, pushing the total number of jobs to 14,115,700. This marks an increase of 270,700 jobs from the previous year, the largest absolute over-the-year increase in the nation. “The most dynamic economy in the nation is built by Texans,” said Gov Greg Abbott (R). “I am proud that Texas again leads all states in annual job creation. This continued momentum is a testament to the strength of our young, skilled, diverse, and growing workforce, our welcoming business climate, and the strategic investments we continue to make in education, workforce development, and critical infrastructure,” he added.
Texas leads U.S. in job growth, surpassing its previous record for total number of jobs https://t.co/XGqOMuh8ij
— John Solomon (@jsolomonReports) April 21, 2024
In addition to job numbers, Texas’s labor force reached a record high of 15,189,900. The continuing expansion of workers who are available and reliable is a strong factor in attracting businesses searching for the best location to relocate operations. Overall, the state’s gross domestic product (GDP) grew at an annual rate of 5% in the last quarter.
The Houston-The Woodlands-Sugar Land Metropolitan Statistical Area notably led the state in nonfarm job additions, with a remarkable increase of 67,800 jobs over the year. The strongest sector in Houston over the last year was leisure and hospitality.
Texas’ standout record indicates the potential of conservative governance to create thriving business environments that attract a wide range of industries. Over the past few years, Texas has become a magnet for businesses relocating from California, primarily due to its business-friendly environment and lower operational costs. Since 2020, approximately 165 companies have moved to Texas, with over half of them originating from California.