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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 ...
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]
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 ...
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]
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]
There’s a simple, bipartisan solution that’s a win-win for Texas families and our Texas economy. Since 2008, the federal government has extended work permits to spouses and children of U.S ...
Energy is a major component of the economy of Texas. The state is the nation's largest energy producer, producing twice as much energy as Florida , the state with the second-highest production. It is also the national leader in wind power generation, comprising about 28% of national wind powered electrical production in 2019.
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 ...