Texas is forging ahead with job growth, outpacing the national average in a robust display of economic resilience. As per the latest figures released by the Texas Workforce Commission, the state has witnessed a remarkable growth in employment numbers from October 2023 to October 2024. Governor Greg Abbott has been quick to highlight these statistics, emphasizing the state’s agility in meeting the dynamic needs of business and entrepreneurship within its borders. The October employment data, indicating a net addition of 274,600 nonfarm jobs, underscores this upward trend that has been continuously outstripping the national annual growth rate.
“Texas grows jobs at a faster annual rate than the U.S. because Texas moves at the speed of business,” said Governor Abbott, according to the officialpress release. He also stressed the importance of workforce development and the state’s dedication to equip a young and burgeoning labor force for the jobs that demand high skills and that pay well. Such initiatives, combined with the dismantling of regulatory barriers, play a central role in the statewide strategy to foster a more prosperous Texas for all its residents.
In the month of October alone, positive job gains featured predominantly in the Financial Activities sector, which saw a surge of 6,200 jobs, outperforming the national growth rate by 2.8 percentage points. Leisure and Hospitality, Information, and Manufacturing also experienced significant growth, contributing to the overall employment landscape. More so, the state’s labor force has hit a historical peak, now counting 15,497,100 people, with Texas achieving a new high for the total number of working individuals, including those who are self-employed, at 14,858,700.
Under Governor Abbott’s tenure, more than 2.4 million jobs have been added to the state’s economy, reinforcing Texas’ position as a formidable economic powerhouse. Earlier this month, the state was recognized for its business-friendly environment, being named the Top Business Climate in the nation for the second consecutive year by Site Selection magazine. This recognition stands as a testament to the state’s success in crafting an economy that meets the changing needs of Texas entrepreneurs and businesses, with over four million Texans participating in skills training programs annually. The TWC also continues its commitment to workforce empowerment by offering free learning programs and resources, accessible both in-person and online through local Workforce Solutions offices.
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