In a notable economic achievement, Texas' labor market has reached unprecedented heights, recording a seasonally adjusted job count of 14,094,900 in November. This marks a significant increase of 26,800 positions from the previous month, setting a new record high for Lone Star State employment over the last 26 months.
Texas has consistently demonstrated robust employment growth, adding a remarkable 407,100 positions since November 2022. The state ranks first in the nation for an over-the-year increase in seasonally adjusted nonfarm jobs, with an annual growth rate of 3.0 percent from November 2022 to November 2023. This growth outpaces the nation's more modest 1.8 percent increase during the same period.
The seasonally adjusted civilian labor force in Texas expanded by 30,800 people in November, reaching 15,192,900—a trend that has persisted for 11 consecutive months. This growth included the addition of 39,700 employed Texans, while the seasonally adjusted unemployment rate held steady at 4.1 percent.
Bryan Daniel, TWC Chairman, emphasized Texas's leadership in economic growth, stating, "Texas continues to lead the nation and break records for economic growth. With more than 26,000 positions added in November, TWC continues to connect job seekers and employers to keep Texas working."
Eight out of eleven major industries in the state expanded in November, with notable growth in Professional and Business Services (9,900 jobs added) and the Construction industry (9,200 jobs added). Six of the eleven major sectors set new employment highs, including Construction, Financial Activities, Professional and Business Services, Private Education and Health Services, Leisure and Hospitality, and Government.
TWC Commissioner Representing Labor, Alberto Treviño III, highlighted the state's ongoing outperformance in job growth, stating, "Texas continues to outpace the nation in job growth as Texans take advantage of the many options available for their next career opportunity."
The Midland Metropolitan Statistical Area (MSA) maintained the lowest unemployment rate among Texas MSAs at 2.2 percent, followed by Amarillo MSA at 2.6 percent and College Station-Bryan at 2.7 percent.
As Texas heads into 2024, TWC Commissioner Representing Employers, Joe Esparza, expressed optimism, stating, "The Texas labor market has continued to thrive month after month and continues to lead the nation in many categories. As we head into 2024, the future looks bright for Texas employers seeking to expand their business and tap into the state’s growing workforce."
The Texas Workforce Commission's employment estimates, released in collaboration with the U.S. Department of Labor’s Bureau of Labor Statistics, are subject to revision. For more employment data, visit TexasLMI.com. The December Texas Labor Market Information Data will be available on Friday, January 19, 2024, at 9:00 am.
