The Lone Star State is shining brightly as it outpaces the rest of the nation in jobs and workforce development for the 20th consecutive month.
May data released by the Texas Workforce Commission and the Bureau of Labor Statistics revealed that Texas broke previous records for “total jobs, total Texans employed, and total Texas workforce,” per a release from the Office of the Governor received by The Dallas Express.
Upon receiving the news, Texas Gov. Greg Abbott declared, “Texas’ robust economy stands apart as a model for the nation.”
“Not only are more Texans working than ever before, Texas leads the nation for jobs added over the last 12 months,” Abbott continued. “Texas has also smashed the record for total jobs 20 months in a row, proof that jobs grow and people prosper where free enterprise flourishes.
“With the Texas labor force now surpassing 15 million people and larger than the population in 46 states, we truly are building an even stronger Texas of tomorrow.”
Texas has a labor force of 15,009,300 people, with a total of 13,918,700 total jobs. In the last month, Texas businesses created an additional 51,000 nonfarm jobs.
Including the employed and the self-employed, the total number of Texans working sits at 14,393,000.
Ultimately, over the past year, Texas added 529,800 jobs, representing a 4% annual growth rate, higher than the national average of 2.7%.
As reported by The Dallas Express, Abbott also called Texas the “headquarters of headquarters” after a report showed the state is home to more Fortune 500 company HQs than any other state in the nation—narrowly beating rival California.
However, despite Texas’ strong showing, worrying signs have emerged in Dallas as the population has shrunk and the city’s growth stagnated while the rest of the metroplex booms.
James Quintero from the Texas Public Policy Foundation recently noted that, from 2018 to 2022, the city’s population decreased by 3%, while the cost of goods grew by nearly 17%, and the property tax levy spiked by over 33%.
“The city’s tax burden is growing 2.5 times faster than the rate of population growth and inflation,” he noted. “If the tax burden continues to grow aggressively, then will the city’s population decline accelerate further? Perhaps.”
Similarly, Quintero identified that “City spending is growing faster than it should,” explaining that from the FY 2018-19 to the FY 2022-23, the allocated general fund budget climbed nearly 25%.
The effects have even begun to creep into the surrounding municipalities. Fortune 500 Company ExxonMobil recently announced it would be departing Irving to move to Spring, as reported by The Dallas Express.
