Tracking the Texas Economy
Updated August 20, 2008
Key Texas Economic Indicators
If it were not for Texas’ job growth, the nation would have seen a net loss of jobs over the past twelve months. With Texas’ gain of almost 249,000 jobs, the nation lost 67,000 jobs. Texas added jobs in all major industries except the information and manufacturing industries. Even with a drop in housing permits, the state’s construction employment grew in response to non-residential and highway construction. Year-to-year inflation increased in June at its fastest rate since December 1990.
A printable version of the Tracking the Texas Economy for August 20, 2008 is available in .pdf format. The online version provides the most recent data, and is updated more frequently than the pdf.
Sources: Texas Workforce Commission, U.S. Bureau of Labor Statistics
View Unemployment Rate in Table Format
See note on percent change data
Source: The Real Estate Center at Texas A&M University
View Housing Permits in Table Format
See note on percent change data
Source: The Real Estate Center at Texas A&M University
View Existing Home Sales in Table Format
Source: Texas Comptroller of Public Accounts, The Conference Board
View Leading Economic Indicators Index in Table Format
Source: McGraw-Hill, Inc.,
View Contract Value, Non-Residential Building Construction in Table Format
Web Exclusive Indicators
Source: U.S. Energy Information Administration
View Gasoline and Diesel Retail Prices in Table Format
Source: U.S. Bureau of Labor Statistics,
View U.S. Consumer Price Index for All Urban Consumers in Table Format
‡ Double axis graphs: Graphs with two vertical axes show values for Texas on the left and values for the U.S. on the right. This method shows trends more clearly over the last year when data values are substantially different at state and national levels.
Note: Percent changes on Tracking the Texas Economy graphs and tables are calculated using raw monthly figures. Some of the annual percent changes in the Comptroller’s Economic Outlook are based on annualized figures that show longer-term trends, and therefore may differ.
Texas Production and Consumption Indicators
(Amounts in Millions)
| Date | Value of Crude Oil Produced (Millions) |
Value of Natural Gas Produced (Millions) |
Active Oil & Gas Drilling Rigs |
Gasoline (Millions of Taxed Gallons) |
Diesel (Millions of Taxed Gallons) |
Median Sales Price Existing Single Family Homes | Auto Sales Net Value (Millions) |
Cigarette Packages Taxed (Millions) |
|---|---|---|---|---|---|---|---|---|
| 2006 | $19,657.47 | $19,852.05 | 746 | 11,372.8 | 3,731.6 | $143,100.00 | $45,756.20 | 1,280.2 |
| 2007 | $20,809.07 | $24,602.30 | 834 | 11,624.8 | 3,886.9 | $147,500.00 | $48,500.60 | 1,085.8 |
| 04/07 | $1,558.20 | $1,977.50 | 824 | 968.2 | 369.2 | $146,400.00 | $4,233.30 | 109.7 |
| 05/07 | $1,557.79 | $2,276.01 | 829 | 983.1 | 248.5 | $149,200.00 | $4,227.30 | 92.3 |
| 06/07 | $1,556.10 | $2,295.38 | 834 | 1,002.3 | 326.8 | $155,000.00 | $4,159.00 | 89.5 |
| 07/07 | $1,769.86 | $2,183.24 | 831 | 978.2 | 326.3 | $152,200.00 | $4,368.30 | 96.2 |
| 08/07 | $1,790.06 | $2,052.23 | 844 | 974.3 | 320.5 | $152,700.00 | $4,383.80 | 151.3 |
| 09/07 | $1,948.83 | $1,893.73 | 837 | 1,021.1 | 360.6 | $146,900.00 | $4,294.20 | 29.3 |
| 10/07 | $1,958.82 | $2,073.09 | 842 | 939.6 | 315.9 | $143,500.00 | $4,303.50 | 96.1 |
| 11/07 | $2,311.32 | $2,049.88 | 860 | 1,025.7 | 371.5 | $144,900.00 | $3,678.90 | 92.8 |
| 12/07 | $2,225.56 | $2,294.73 | 884 | 965.8 | 342.4 | $147,500.00 | $3,828.50 | 88.2 |
| 01/08 | $2,332.21 | $2,451.32 | 858 | 985.8 | 313.7 | $138,900.00 | $4,034.00 | 76.7 |
| 02/08 | $2,270.78 | $2,551.98 | 866 | 954.2 | 343.2 | $142,800.00 | $3,840.80 | 80.2 |
| 03/08 | $2,528.35 | $3,043.29 | 881 | 940.6 | 324.1 | $147,000.00 | $3,940.00 | 79.1 |
| 04/08 | $2,651.08 | $3,139.48 | 887 | 1,010.4 | 281.1 | $146,800.00 | $3,957.80 | 90.5 |
| 05/08 | $2,961.90 | 906 | 975.8 | 343.1 | $150,700.00 | $3,791.70 | 98.3 | |
| 06/08 | 923 | 1,018.3 | 331.5 | $155,900.00 | $4,051.00 | 89.6 | ||
| 07/08 | 920 | 954.0 | 321.3 | 93.3 |
Notes:
Crude oil and natural gas figures are net taxable values. Gasoline gallons include gasohol. Auto sale values are calculated from motor vehicle taxes collected on new and used vehicle sales. All figures are not seasonally adjusted, except for industrial production, leading indicators and employment/unemployment. Figures are based on the most recent available data. Annual figures are for calendar years.
Sources:
Crude Oil, Natural Gas, Motor Fuel, Auto Sales, Cigarettes:
Texas Comptroller of Public Accounts
Active Oil & Gas Drilling Rigs: Baker-Hughes Incorporated
Median Sale Price, Existing Single-family Home: The Real Estate Center at Texas A&M University
For historical data, see Texas Production and Consumption 1994-2007
The dynamic Texas economy is ever-changing as it responds to new challenges and opportunities. View the Comptroller’s economic outlook, additional indicators and more detailed statistics on the Texas economy in addition to timely updates in the Texas Ahead web site: Economy in Focus section.
Snapshots of the state’s key economic indicators are published in every issue of the Comptroller’s Fiscal Notes newsletter, which also offers an in-depth look at topics and issues impacting the Texas economy. Sign up for your free subscription.