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 June 2024.
July 2024 Labor Market Information
- Unemployment Rate: 4.1%
- Total Non-Farm Employment: 14,166,400
- Jobs Change Over the Year: 265,500
- Annual Growth Rate: 1.9%
July employment data released by the U.S. Bureau of Labor Statistics and the Texas Workforce Commission shows:
- Texas reached a new high with the largest labor force ever in the state’s history at 15,353,700, after growing by 248,900 people over the last 12 months.
- Texas reached a new high for Texans working, including self-employed, at 14,731,400.
- Texas added 265,500 non-farm jobs from July 2023 to July 2024, outpacing the nation as a whole in annual growth rate.
- The Texas unemployment rate in July of 4.1 percent was 0.2 percentage points below the national rate.
- According to the Texas Workforce Commission, there are more than half a million job listings in the state.
The Texas Workforce Commission
The Texas Workforce Commission announced Texas’ seasonally adjusted civilian labor force achieved a new record-high of 15,353,700 after adding 41,900 people over the month in July. This marks a seventh consecutive month of growth for Texas’ civilian labor force. Over the year, Texas’ civilian labor force has added 248,900 people. “Despite a slight decrease in the total number of jobs, the Texas civilian labor force continues to break records,” said TWC Chairman Bryan Daniel. “There are still more than half a million job listings in the state, which create career opportunities for Texans.”
Trade, Transportation, and Utilities added 7,300 jobs in July, registering as the industry with the largest over-the-month increase. Financial Activities added 2,500 jobs over the month and Mining and Logging added 1,300 jobs. With the addition of 900 jobs in July, Construction showed 4.0 percent growth over the year, which outpaced the industry’s national growth rate by a full percentage point.
State Sales Tax Revenue Totaled Nearly $4 Billion in July
Comptroller Glenn Hegar announced state sales tax revenue totaled $3.99 billion in July, 0.1 percent more than in July 2023. The majority of July sales tax revenue is based on sales made in June and remitted to the agency in July.
Texas collected the following revenue from other major taxes:
- motor vehicle sales and rental taxes – $599 million, down 4 percent from July 2023;
- motor fuel taxes – $319 million, down 3 percent from July 2023;
- oil production tax – $557 million, up 27 percent from July 2023;
- natural gas production tax – $164 million, up 152 percent from July 2023;
- hotel occupancy tax – $75 million, up 5 percent from July 2023; and
- alcoholic beverage taxes – $150 million, up 1 percent from July 2023.
For details on all monthly collections, visit the Comptroller’s Monthly State Revenue Watch.
Comptroller Distributes $1.2 Billion in Monthly Sales Tax Revenue to Local Governments
Comptroller Glenn Hegar announced he will send cities, counties, transit systems and special purpose districts $1.2 billion in local sales tax allocations for August, 0.3 percent less than in August 2023. For details on August sales tax allocations to individual cities, counties, transit systems and special purpose districts, visit the Comptroller’s Monthly Sales Tax Allocation Comparison Summary Reports.
