Texas leads US in jobs creation

 Texas Tribune:

Texas led country in new jobs in 2022 as state’s unemployment rate fell below 4%

The state set a record for the number of employed people for 14 consecutive months.

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The state’s employers added 650,100 nonfarm payroll jobs — a 5% jump — between December 2021 and December 2022, according to the report. This rise surpassed that of California and Florida, which added 621,400 and 440,000 jobs, respectively. In total, 13.7 million Texans were in nonfarm jobs at the end of 2022 compared to about 13 million at the end of 2021.

The report continues a stream of strong economic indicators for Texas. According to a previous report from the Texas Workforce Commission, the state continued a 14-month streak of record employment in December. And the state’s unemployment rate dropped to 3.9%, the first time it fell below 4% since the forced business closures at the onset of the coronavirus pandemic.
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The increases were in education, healthcare, financial services, and manufacturing. Texas also has lower energy prices than California which makes it easier for businesses to start up or expand.

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