Job growth, sales tax collections – both from business and consumer purchases – as well as automobile sales, signal that the Texas economy has emerged from the recent recession.
Another indicator that the state’s economy has been comparatively healthy was the U.S. Bureau of the Census report that Texas added more people (nearly 4.3 million) than any other state between the census counts of 2000 and 2010.
As of November 2011, 97 percent of the total jobs shed by Texas employers during the recession have been recovered as our economy rebounded more quickly than the U.S. as a whole. Nationally, only 30 percent of recession-hit jobs have been recovered through December 2011.
Texas and the nation returned to economic growth in 2010, with the nation increasing its real Gross Domestic Product by 3.0 percent and Texas increasing its real Gross State Product by a similar 2.8 percent.
Read more...Texas Comptroller Texas Ahead: Economic Outlook Updated January 6, 2012