Report: Texas Economy Continues to Outshine Rest of US

Texas continues to outshine the nation when it comes to job growth and healthy economy, according to new data released by the State of Texas. This is evident in the Texas unemployment rate, which is just around 5.7 percent. The Lone Star State's percent of jobless inhabitants has been below the national average, which currently stands at 6.7 percent, for 85 months in a row.

Further exemplifying Texas' thriving economy is the fact that the State's sales tax collections have continued to increase for 47 straight months according to Comptroller reports. The booming oil and natural gas industry has undoubtedly helped increase sales tax collections, but retail sales have as well. This indicates that Texans have been successful in acquiring jobs that are providing them with money to spend.

Nonfarm jobs in Texas increased by 33,900 in January alone. In the last year, Texas' employment increased by 2.9 percent, while over the same time span nation-wide job opportunities only increased by 1.6 percent.

The Comptroller’s Weekly Economic Outlook highlighted the fact that new jobs in Texas were added in all industries. This includes "professional and business services, trade, transportation and utilities, leisure and hospitality, education and health services, construction, mining and logging, government, financial activities, information, other services, and manufacturing."

As Breitbart Texas previously reported, Texas cities dominated Wallet Hub's new ranking of America's best cities for job seekers. Fort Worth was named the nation's number one city for jobs. Arlington, Dallas, Austin, and Houston also made the top ten.

Wallet Hub compiled the list "using 13 unique metrics, ranging from job openings per capita and industry variety to cost of living and the prevalence of employer-provided health benefits."

Governor Rick Perry said, "Texas’ flourishing economic climate and thriving jobs market continues to receive national attention thanks to our commitment to low taxes, predictable regulations and fair courts. Combined with our world-class skilled workforce ready to take on any need an employer may have, job creators around the country know that Texas is the best state to start and grow a business."

Follow Kristin Tate on Twitter @KristinBTate


advertisement

Breitbart Video Picks

advertisement

advertisement

Fox News National

advertisement

Send A Tip

From Our Partners