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Texas Ahead: Economic Resources

by admin on September 27, 2011

Texas total nonfarm employment decreased slightly by 1,300 jobs from July to August. Between August 2010 and August 2011, Texas gained 253,200 jobs, a 2.4 percent increase.

Over the past year, Texas added jobs in nine of the eleven major industries sectors, including educational and health services, professional and business services, trade, transportation and utilities, leisure and hospitality, manufacturing and mining and logging.

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Job growth, sales tax collections – both from business and consumer purchases – as well as automobile sales, signal that the Texas economy has emerged from the recent recession.

Another indicator that the state’s economy has been comparatively healthy was the U.S. Bureau of the Census report that Texas added more people (nearly 4.3 million) than any other state between the census counts of 2000 and 2010.

Through August 2011, 94 percent of the total jobs shed by employers during Texas’ shorter recession have already been recovered as our economy has rebounded more quickly than the U.S. as a whole. Nationally, only 22 percent of recession-hit jobs have been recovered. Texas’ 10 consecutive months of job growth was interrupted in August 2011 when employment contracted slightly by 1,300 positions. This decrease in August is similar to the U.S. employment situation in August where no changes in payroll jobs were reported from July to August.
Texas and the nation returned to economic growth in 2010, with the nation increasing its GDP by 3.0 percent and Texas increasing its GSP a similar 2.8 percent, with Texas’ economy not affected as severely by the recession as the nation as a whole.

Tracking the Texas Economy

About Susan Combs

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