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Texas economy moderates toward more normal growth in 2024
Texas economic growth remains healthy while gradually reverting to a more historically normal pace of expansion following the pandemic when a bust in the first half of 2020 preceded a subsequent boom.
Texas economic activity expands modestly; labor market remains healthy
Texas economic activity expanded at a modest pace in April. While the manufacturing sector rebounded, the service sector slowed. Texas employment growth was moderate in the first quarter, slightly above the state’s roughly 2 percent long-run trend, and the unemployment rate held steady.
Journal Article
Go Figure: Birth Rates Falling Faster in Texas than U.S.
Although birth rates in Texas remain higher than in the U.S., their decline since 2007 has been particularly noteworthy.
Texas modestly grows with soft landing likely
Texas firms reported below-average output growth to start 2023, while employment and wage gains remained elevated despite indications of a softening labor market.
Mounting Signs Point to a Texas Economic Slowdown
The most recent jobs report showed state employment was flat in August. The unemployment rate rose slightly to 4.1 percent (from 4.0 percent in July), and labor force and wage growth also eased.
Journal Article
Strong U.S. labor market drives record remittances to Mexico
Remittances from the U.S. to Mexico reached a record $55.9 billion in 2022. Strong employment in the U.S. construction sector—a leading employer of Mexican migrants—best explains the recent growth of remittances to Mexico.
Unprecedented U.S. immigration surge boosts job growth, output
U.S. labor market conditions are among the main drivers of an unprecedented surge of immigration, the exact size and consequences of which are still being assessed.
Recent growth of professional services jobs favors select Texas counties
Professional services jobs have grown faster in Texas than in the U.S. since 2020, partly because of business relocations to the state. This expansion has been highly geographically clustered, with 10 of Texas’ 254 counties accounting for more than 92 percent of the statewide growth.
Journal Article
Go Figure: If Texas were a country…
Texas is comparable to entire countries—and so are some of its urban areas.
Journal Article
Hang your hat in Texas: State remains a leader in firm relocations
Recently released data through 2019 show Texas remains a juggernaut, a leader for business relocations. And while figures covering the subsequent pandemic era and beyond are incomplete, anecdotal evidence suggests Texas remains a go-to spot.