economicsTexas shows continued economic, population growth

Highlights of Comptroller’s new state regional reports

June 2024 | Brandon Vasquez

The Comptroller’s data analysts recently updated our regional reports, showing a continued trend of strong economic and population growth. Some of these data surprised us, while other results confirmed what we’ve been hearing. Here are the top 10 stats that stood out to our researchers:

1. The saying, “I wasn’t born in Texas, but I got here as fast as I could,” is truer than you might think.

Texas’ population rose nearly 4 million between 2012 and 2022, by far the most of any state and surpassing second-place Florida by 1 million. Texas’ 15.1 percent increase in population during this period was more than double the U.S. growth of 6.2 percent. Eleven of Texas’ 12 economic regions experienced net population growth, led by the Capital (30.9 percent), Metroplex (19.3 percent), Gulf Coast (18.4 percent), Alamo (16.8 percent) and Central Texas (13.2 percent) regions.

2. Bussin? Slay? Rizz?

Wondering why you’re hearing more new slang these days? It might be because Texas is a youthful state. In 2022, the share of Texas’ population under age 18 was 24.8 percent, second only to Utah’s 27.6 percent. Among Texas regions, South Texas had the largest under-18 share at 28.5 percent, followed by West Texas at 27.6 percent.

3. It could actually pay to keep your nose in those textbooks.

The average annual salary for occupations for Texans with a bachelor’s degree was about $44,700 higher than jobs requiring an associate degree or certificate — $96,888 compared with $52,158.

4. Down (but not out) for the count.

Texas’ community college enrollment dropped 8.1 percent in 2023 compared with pre-Covid enrollment numbers in 2019. Bucking this trend, the West Texas and Southeast regions both saw increases in community college enrollment at 6.3 percent and 10.4 percent, respectively. State university enrollment increased by 3.0 percent from 2019.

5. Texans are rolling up their sleeves to learn the trades.

Texas State Technical Colleges had a significant jump in enrollment in fall 2023 compared with fall 2019, increasing by nearly 52 percent.

6. It’s not just cattle and farming.

Texas’ high-tech and business services industries continue to prosper and grow. Between 2012 and 2022, jobs in the computer systems design and related services industry rose by 123 percent, while management, scientific and technical consulting services jobs increased by slightly more than 96 percent.

7. We’re No. 1!

Texas is the national leader in the energy sector. The state’s gross domestic product (GDP) in the mining, quarrying, and oil and gas extraction sector was $235.6 billion in 2022, accounting for more than half of the sector’s national GDP.

8. Looking for a job? You've come to the right state!

Total employment in Texas rose by 23.5 percent between 2012 and 2022, outpacing the U.S. growth of 13.9 percent. Eleven of the 12 economic regions saw total employment increase during that period, led by the Capital region a gain of 46.4 percent.

9. That’s trillion with a “T.”

Texas is the U.S. leader in international trade. More than a $1 trillion of imports and exports moved through Texas ports of entry in 2022.

10. If you build it, they will come.

Texas accounted for almost a tenth of both the U.S. GDP (9.3 percent) and population (9 percent) in 2022.