Texas leads US in job creation over past year

Published On Oct 25, 2024, 6:00 AM

Texas has recorded the highest job gains in the U.S. over the past year, adding 327,400 jobs from September 2023 to September 2024. California and Florida followed, with 265,300 and 204,700 jobs added, respectively. Governor Greg Abbott attributes this success to Texas's business-friendly environment, highlighted by low taxes and less regulation. The state's economy expanded at an annual rate of 7.4%, significantly outpacing the national growth of 2.9%. Texas's workforce has reached a record 15.4 million people, showcasing a robust job market and attracting businesses, including major firms like Oracle and Tesla.

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With Texas's strong job creation and economic growth, there is an expected positive sentiment around companies operating in the state. Organizations like Tesla (TSLA), which has a significant presence in Texas, could benefit from this environment. The influx of jobs and businesses can lead to increased consumer spending and demand for goods and services, further supporting company growth.

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