The following information has been compiled in order to create a more complete snapshot of the current economic status of Texas.

Labor Market Information

The most recent labor market information for the state is from December 2022:

December 2022 Texas LMI:

  • Unemployment Rate: 3.9%
  • Total Non-Farm Employment: 13,705,500
  • Jobs Change Over the Year: 650,100
  • Annual Growth Rate: 5.0%

The Texas Workforce Commission announced that in December 2022 unemployment sat at 3.9% which is the first month the rate had fallen below 4.0% since February 2020. Education and health services led job growth in December followed by financial activities while manufacturing employment added 5.5k jobs over the month. According the U.S. Bureau of Labor Statistics, Texas led all states for job creation in 2022. Texas added 650.1k nonfarm jobs over the year and grew jobs at 5.0%, the fastest rate in the nation. For more detailed information see the TWC’s Texas Quarterly Census of Employment & Wages: Third Quarter 2022.

State Sales Tax Revenue

Every month, Texas Comptroller Glenn Hegar releases information on state sales tax revenue. Comptroller Hegar announced in January that $1.1b in monthly sales tax has been distributed to local governments which is 7.6% more than in January 2022. The Comptroller also announced that state sales tax revenue totaled a record $4.11 billion in January which is 66% more than January 2022.