Texas continues to shatter records for new jobs. The expansion has been broad based, both in terms of industries and geographic areas. Our latest projections call for notable employment gains over the next five years, though the pace will vary along with external conditions.
By 2027, the level of employment in Texas is forecast to rise from 13.9 million in 2022 to 15.2 million. That’s a gain of some 1.3 million net new jobs and a total increase over the five-year period of 9.5%. (Note that we use the wage and salary measure of employment, which does not include proprietors.) Let’s briefly examine our latest projections by industry group.
Almost one in five net new positions over the next five years is likely to be in the professional and business services industries. These firms provide specialized services such as legal advice and representation, accounting, architectural work, engineering, design, computer services, and consulting. The segment also involves businesses that manage other companies or support day-to-day operations of other organizations.
