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.
June 2024 Labor Market Information
- Unemployment Rate: 4.0%
- Total Non-Farm Employment: 14,188,800
- Jobs Change Over the Year: 267,400
- Annual Growth Rate: 1.9%
The Texas Workforce Commission
The Texas Workforce Commission announced Texas’ civilian labor force has reached a record-high total in June, marking the 6th consecutive month of growth. Texas’ seasonally adjusted civilian labor force achieved a new high of 15,311,500 in June.
- Construction grew by 4.4 percent over the year, which outpaced the national growth rate by 1.5 percentage points
- Private Education and Health Services added 3,900 positions over the month
- Manufacturing added 2,500 jobs
Comptroller Distributes $1.1 Billion in Monthly Sales Tax Revenue to Local Governments
Comptroller Glenn Hegar announced he will send cities, counties, transit systems and special purpose districts $1.1 billion in local sales tax allocations for July, 0.2 percent less than in July 2023.
State Sales Tax Revenue Totaled $3.9 Billion in June
Comptroller Glenn Hegar said state sales tax revenue totaled $3.94 billion in June, 0.4 percent more than in June 2023. The majority of June sales tax revenue is based on sales made in May and remitted to the agency in June. Hegar noted “sales tax remittances from the major sectors driven primarily by business spending were generally down, except for modest growth in receipts from the construction sector.” Texas collected the following revenue from other major taxes:
- motor vehicle sales and rental taxes – $560 million, down 6 percent from June 2023;
- motor fuel taxes – $340 million, up 5 percent from June 2023;
- oil production tax – $493 million, up 8 percent from June 2023;
- natural gas production tax – $171 million, down 7 percent from June 2023;
- hotel occupancy tax – $71 million, up less than 1 percent from June 2023; and
- alcoholic beverage taxes – $160 million, up 2 percent from June 2023.