Beacon Economics

September 15, 2023

Beacon Employment Report | Texas

Presented by Beacon Economics

Copyright © Beacon Economics LLC

INDUSTRY OVERVIEW

The Government sector added more jobs in August than any other sector in the Texas economy, boosting payrolls by 12,100, a 0.6% increase. In other words, Government accounted for 72% of the net jobs added in the state in August.

Leisure and Hospitality was the next best performing sector, adding 9,100 new jobs during August, a month-over-month increase of 0.6%.

Other Services also enjoyed notable gains, adding 5,000 new jobs during the month, a 1.1% increase. This was the largest increase (in percentage terms) amongst Texas’s major industries.

Six of Texas’s major industries shed jobs during the month. Collectively, these industries lost 17,000 jobs in August. The bulk of the losses occurred in Health Care and Social Assistance (-4,900), Retail Trade (-4,500) and Administrative and Support Services (-3,100).

During the past year, employment grew in every sector, except for Administrative Support.

Of Texas’s major industries, Mining and Logging is the only one that has fewer payrolls compared to February 2020 levels. Professional, Scientific, and Technical Services and Health Care and Social Assistance have added the most jobs compared to February 2020 levels, with these two industries accounting for nearly one in three of the net jobs added compared to the pre-pandemic peak.

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