The following information has been compiled in order to create a more complete snapshot of the current economic status of Texas. The most recent labor market information for the state is from March 2024.
March 2024 Labor Market Information
- Unemployment Rate: 3.9%
- Total Non-Farm Employment: 14,115,700
- Jobs Change Over the Year: 270,700
- Annual Growth Rate: 2.0%
Data from the U.S. Bureau of Labor Statistics show that Texas had the largest job gains in the whole nation in the month of March (+270,000).
State Sales Tax Revenue Totaled $3.8 Billion in March
Comptroller Glenn Hegar announced state sales tax revenue totaled $3.78 billion in March, 5.8% more than in March 2023. The majority of March sales tax revenue is based on sales made in February and remitted to the agency in March. “Monthly state sales tax collections solidly exceeded collections from last March,” Hegar said. “Collections from sectors that have been increasing compared with a year ago continued to show strength, and receipts from some sectors that had been lagging saw gains.”
Comptroller Distributes $1 Billion in Monthly Sales Tax Revenue to Local Governments
Texas Comptroller Glenn Hegar announced today he will send cities, counties, transit systems and special purpose districts $1.03 billion in local sales tax allocations for April, 5.5% more than in April 2023. These allocations are based on sales made in February by businesses that report tax monthly.
