Texas has once more shattered its previous employment milestones. Texas maintains its impressive streak of setting job records each month, with October proving to be no exception.
In October, Texas continued to outpace the national job growth rate, achieving a faster annual increase in employment. According to recent data from the Texas Workforce Commission, there has been a remarkable increase in the number of individuals employed in the civilian labor force, as well as a significant rise in the total number of Texans working, including those who are self-employed.
Throughout the year spanning October 2023 to October 2024, Texas experienced an increase of 274,600 jobs. The yearly increase in nonfarm employment stood at 2%, surpassing the national average by 0.6%.
In October, Texas achieved a remarkable milestone by reaching the largest labor force in its history, totaling 15,497,100, following the addition of 47,300 workers during the month. Texas’ civilian labor force has experienced growth for the 10th month in a row, according to the TWC. Throughout the year, the civilian labor force in Texas saw an increase of 360,800 workers, as reported by TWC data.
Texas has achieved a remarkable milestone with a record number of individuals employed, including those who are self-employed, totaling 14,858,700.
“Texas grows jobs at a faster annual rate than the U.S. because Texas moves at the speed of business,” Gov. Greg Abbott said.
“Meeting the changing needs of Texas entrepreneurs and businesses is paramount to ensure ongoing job growth across industries. That is why the state of Texas invests in workforce development and career training to prepare our young and growing labor force for high-demand, good-paying jobs. With more than four million Texans participating every year in those skills training programs and Texas removing regulatory roadblocks that burden small businesses and job growth, we will build a bigger, better Texas for all.”
In October, the Financial Activities sector saw a significant boost, with an addition of 6,200 jobs in just one month. The annual growth reached 3.1%, surpassing the national rate by 2.8%. The Leisure and Hospitality sector closely trailed, contributing 4,900 new positions during the month, while the Information sector and Manufacturing both saw an increase of 1,900 jobs each.
Texas experienced a minor decline in its seasonally adjusted total nonfarm employment, which now stands at 14,276,300, reflecting a loss of 10,600 jobs in the past month, as per the data.
Under Gov. Abbott’s leadership, Texas has seen an impressive addition of over 2.4 million jobs. The unemployment rate in Texas, not adjusted for seasonal factors, stood at 4.1%, surpassing the national figure of 3.9%.