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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]
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.
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The economy of Houston is based primarily on the energy industry, particularly oil.However, health care, biomedical research, and aerospace also constitute large sectors. In 2021, the gross domestic product (GDP) of the Houston–The Woodlands–Sugar Land metropolitan statistical area (MSA) was 537 U.S. dollars billion, the fourth-largest of any metro area in the United States. [1]
AccuWeather estimated a total U.S. economic loss of $28 billion to $32 billion, with most of it situated in Texas. [ 21 ] Estimates made by The Perryman Group made preliminary estimates of ~USD$1.5 billion losses in damages caused by the storm itself, and estimated long-term economic losses of "$4.6 billion in total expenditures , $2.0 billion ...
"Texas has been over the past decade the epicenter of the kind of extreme laws," says a spokesman for a national pro-ESG organization.
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 ...