The Texas economy continues to recover from the impacts of the global pandemic. A snapshot of the state’s economic status:

Sep 4, 2020 | Uncategorized

Texas Economic Snapshot

The Texas economy continues to recover from the impacts of the global pandemic. Below is a snapshot of the state’s economic status:

  • In July, Texas added 31,400 nonfarm jobs and continues to be the leader in the most private sector jobs added over the last 10 years. (Bureau of Labor Statistics & Texas Workforce Commission)
  • Over the month of July, the Texas unemployment rate dropped to 8%, down from 8.6% in June and lower than the U.S. rate of 10.2%. (Texas Workforce Commission)
  • The July unemployment rate is the third consecutive monthly decrease and the lowest rate since March 2020. (Texas Workforce Commission)
  • In July, the Government sector added 43,700 jobs. Professional and Business Services added 16,400 positions, and Education and Health Services added 10,300 positions over the month. (Texas Workforce Commission)
  • Between May and June, Texas exports increased by $4 billion, or nearly 25%. (USA Trade)
  • Initial unemployment claims continue to be lower than the highest spike in April. (Texas Workforce Commission)
  • The Texas civilian labor force stayed consistent in June and July at 13.8 million, up from 13.4 million in May. (U.S. Bureau of Labor Statistics)
  • Texas factory activity continued to expand in July. (Federal Reserve Bank of Dallas)
  • 21% of retailers indicated an increase in sales in July compared to June. (Federal Reserve Bank of Dallas)
  • Texas travel spending increased for the third straight week. (Tourism Economics and the U.S. Travel Association)
  • Texas hotel room demand continued to slowly increase in early August. Roomnights sold the week ending August 15 increased to 1.6 million. (STR)
  • Daily travel in Texas increased in August compared to July. (Arrivalist)