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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]
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Texas manufacturing output grew in October, but new orders are declining and the outlook is worsening. Meanwhile, retail sales declined. Signs of trouble: New reports show Texas economy is facing ...
And while both Texas and the U.S. saw around 63.4% of people participating in the labor force before the pandemic, Texas’s labor force participation rate has recovered to 64.2% as of last month.
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 ...
Because of these events, the coming oil boom became heavily centered on the city of Houston both as a port and a commercial center. [15] Though Texas had notable urban areas at the turn of the century, it was still a predominantly rural state. Texas was largely open range, meaning that livestock could freely roam throughout the state. [16]
A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Just 10 days ago, anxious markets were freaking out about the US economy ...