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For nearly two years, Texas has led the country in job growth, most recently adding more than 400,000 new jobs between August 2022 and 2023, according to a Department of Labor Statistics report ...
The Texas unemployment rate in April was 6.7%, almost double its pre-pandemic level of 3.5% in December 2019. South Carolina's unemployment rate in April was 5%, twice its pre-pandemic level of 2.5%.
Other data series are available back to 1912. The unemployment rate has varied from as low as 1% during World War I to as high as 25% during the Great Depression. More recently, it reached notable peaks of 10.8% in November 1982 and 14.7% in April 2020. Unemployment tends to rise during recessions and fall during expansions.
The government of Texas's initial response to the COVID-19 pandemic in the state consisted of a decentralized system that was mostly reliant on local policies. As the pandemic progressed in Texas and throughout the rest of the country, the Texas government closed down several businesses and parks, and it eventually imposed a statewide stay-at-home order in late May.
Texas counties by GDP in 2021 (chained 2012 US$) The economy of the State of Texas is the second largest by GDP in the United States after that of California. It has a gross state product of $2.694 trillion as of 2023. [7] In 2022, Texas led the nation with the most companies in the Fortune 500 with 53 in total. [8]
Republican governors of 24 states plan to cancel federal unemployment programs in June citing worker shortages, but one analyst called the move politically — not economically — motivated.
Although black people made up 20 percent of the state population at the turn of the century, they were essentially excluded from formal politics. [7] Republican support in Texas had been based almost exclusively in the free black communities, particularly in Galveston, and in the German counties of the rural Texas Hill Country inhabited by ...
The state has yet to return to its pre-pandemic unemployment rate of about 3.5%, even as it leads the country in new jobs created. However, state economic experts say the unemployment rate is an ...