The Lone Star State continues to lead the nation in annual job growth.
Gov. Greg Abbott celebrated the state’s latest employment data, which shows that Texas added more jobs over the last 12 months than any state in the nation and that more Texans are working than ever before.
The Texas civilian labor force climbed to 15,162,100 in October, with employed workers accounting for 14,536,800 jobs, yielding an unemployment rate of 4.1%, per the Bureau of Labor Statistics. This rise in job growth marks the 10th consecutive monthly increase.
Overall, Texas added 391,500 jobs between October 2022 and October 2023, leading to an annual growth rate of 2.9%, a percentage point above the 1.9% growth rate for the nation, data shows.
“Texas continues to outpace the nation in job growth as we expand workforce opportunities in multiple industries,” said Alberto Treviño III, a commissioner representing labor for the Texas Workforce Commission, in a news release.
“This means doors continue to open for career pathways and for job seekers entering the workplace,” he added.
Gov. Abbott noted that the Lone Star State’s strong labor market and business climate were unmatched in October and over the last year.
“Thanks to our young, skilled, diverse, and growing labor force — the largest ever and a magnet for businesses looking to invest and expand — Texas again leads the nation in annual jobs growth,” remarked the governor in a news release.
“Despite national economic headwinds, Texas grew more jobs over the past 12 months than any other state. That momentum is a testament to the resilience of Texas businesses and entrepreneurs and the best business climate in the nation. With more Texans working than ever before, we continue to build an even bolder Texas of tomorrow,” he said.
Similar to Gov. Abbott’s bullishness on Texas, New York Stock Exchange president Lynn Martin also sees enormous potential for the Lone Star State, particularly with respect to the state’s robust economy and attitude toward business.
“Texas has really allowed entrepreneurs to flourish, which really speaks to the welcoming nature of the economic incentives that accompany Texas,” Martin said during a Dallas Regional Chamber event, as previously reported by The Dallas Express.