Economy
Texas is a large, diversified state boasting one of the biggest economies in the world. Our reports and articles help you understand why.
With the 2024 holiday season wrapped up, it’s time to take a closer look at the numbers and understand what drove this year’s better-than-expected consumer spending.
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Texas total nonfarm employment dipped in October after two months of growth. Despite the loss of jobs, the unemployment rate held steady at 4.1 percent and the labor force participation rate climbed to 64.6 percent. Inflation remained resilient and failed to decrease toward the 2 percent target rate.
Home sales typically cool off by October, but this year is a little different with sales in both September and October higher than they were during the summer. The rate of new listings is still on the rise resulting in rising inventory levels.
Like last quarter, border employment grew in 3Q2024but not enough to prevent an increase in the unemployment rate. Housing sales had a worse second quarter this year than last year, and home prices increased in two of the four border metros.
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