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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 ...
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]
High and the persistent unemployment, in which economic inequality increases, has a negative effect on subsequent long-run economic growth. Unemployment can harm growth because it is a waste of resources; generates redistributive pressures and subsequent distortions; drives people to poverty; constrains liquidity limiting labor mobility; and ...
There are many domestic factors affecting the U.S. labor force and employment levels. These include: economic growth; cyclical and structural factors; demographics; education and training; innovation; labor unions; and industry consolidation [2] In addition to macroeconomic and individual firm-related factors, there are individual-related factors that influence the risk of unemployment.
May 31—In April, the seasonally adjusted Texas unemployment rate was 6.7%, down 0.2 percentage points from March 2021. Texas added 13,000 total nonagricultural jobs over the month, making gains ...
Some have argued that the recent lack of job creation in the United States is due to increased industrial consolidation and growth of monopoly or oligopoly power. [6] The argument is twofold: firstly, small businesses create most American jobs, and secondly, small businesses have more difficulty starting and growing in the face of entrenched existing businesses (compare infant industry ...
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 ...
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.