HillCo Partners Shares the State of Texas’ Economic Report

HillCo Partners, a public affairs organization located in Texas, provides communications updates, public policy consultation, and influencing. Neal T. Jones and Bill Miller established the company, which started operating in 1998. The duo involves itself in Texas’ politics, something that contributed to being famous in the state.

Bill Miller handles the company’s public affairs, while Mr. Jones heads the lobbying, advisory, and administration departments. The partners provide customers with insightful communications, contributing to HillCo Partners company’s fame in the area. The firm leads in providing economic trends and news concerning Texas State. Here is some of the information the company gathered about the economy of Texas by the end of February 2022:

Changes in Labor Market

The labor market in Texas has consistently shown positive growth, which is an excellent sign. Between February 2021 and February 2022, more people in Texas got employment opportunities, thereby reducing the unemployment rate by 1.9%. Also, more companies have been employing more workers since February 2021. The changes in the labor market have been felt all over America, with a reduction in the unemployment rate in the country by 2.4% by February 2022.

The Federal Bank Reserve of Dallas noted that Texas’ economy had reported steady growth, especially after the pandemic. The area’s economy showed a positive recovery as things slowly returned to normalcy. When Russia started the war with Ukraine, oil prices shot drastically. However, the rates have steadied in the recent past. In Texas and America, more people have gotten employment as the wages also keep increasing. The State of Texas leads in job growth compared to others in the country.

Bond Rating

The Texas bond ratings indicate that the state can clear its debts. As an investor, you can use the ratings to get an idea of the credibility and responsibility of future investments. The higher the bond rating, the lower the interest rate and vice versa.

Sales Tax Revenue

In a report released by Glenn Hegar, the Texas State Comptroller, the state collected more than three billion dollars in sales tax. That was an increase from February 2021 collection by 28.6%. The figures came from an increase in receipts from most sectors compared to last year’s amounts. The industries that reported the most significant growth are manufacturing, wholesale traders, and manufacturing.