Texas’ unemployment rate is among the nation’s worst — but experts say it signals a growing economy
For nearly two years, Texas has led the country in job growth, most recently adding more than 400,000 new jobs between August 2022 and 2023, according to a Department of Labor Statistics report released Sept. 19.
So why is the state’s unemployment rate tied for fifth-worst in the country? Texas unemployment has stagnated at 4.1% for four consecutive months, falling below the August national average of 3.8%. It hit 4% in February, and still has not returned to pre-pandemic levels, according to data from the Federal Reserve Bank of Dallas.
Far from a sign of trouble,...