Governor Greg Abbott has praised new data from the Bureau of Economic Analysis which reveals that the Texas economy has grown faster than the entire U.S. for the fourth consecutive quarter. The Office of the Texas Governor disclosed that the state's real gross domestic product (GDP) for the second quarter of 2023 grew at an annual rate of 4.9%, compared to 2.1% in the rest of the country.
Abbott, a Republican, stated in a press release issued by his office on December 7, "Opportunity knows no bounds in Texas thanks to the hardworking men and women of this great state." He continued, "Texas’ continuing economic expansion, well ahead of the United States as a whole for the fourth quarter in a row, is further proof that when given the freedom to aspire, businesses invest and people prosper." The governor concluded his remarks by saying, "Together, we continue to build a bigger, bolder Texas of tomorrow."
A report from Austin Journal on November 20 revealed that October employment data showed continued leadership by Texas in annual jobs growth nationwide. The state also set new records with its largest civilian labor force ever at 15,162,100 and more Texans being either employed or self-employed than ever before with a count reaching 14,536,800.
The publication cited information from Abbott's office stating that Texas added 391,500 jobs from October 2022 to October 2023 - more than any other state.
Throughout this year, Abbott has often celebrated Texas's standing as an economically strong state. From recognition in publications to accolades bestowed by organizations, Texas has been hailed as an ideal location for anyone looking to start a business or find new employment.