Here’s how the coronavirus is impacting Texas’ economy

Mike Chiari The Texas Tribune

The unemployment rate has begun to rise

The March unemployment rate for Texas, 4.7%, doesn’t reflect all the job losses. Analysts cautioned this is because Friday’s release is based on March data, which predated the widespread closures and layoffs that escalated later. The April unemployment rate, which will be released in May, will better capture the coronavirus’ impact on Texas workers.

We’re watching the state’s monthly sales tax revenues

In the second half of March, leaders shut down businesses across Texas to slow the spread of the new coronavirus. The fallout from the closures will appear in sales tax revenue — the state budget’s largest source of funding — collected in coming months. Texas reported $2,690,408,000 in sales tax revenues collected in February. The next round of sales tax revenues will reflect receipts collected in March and is expected to be released in early May.

About this data

Unemployment claims are updated each Thursday with data from the U.S. Employment and Training Administration and the Texas Workforce Commission. The unemployment rate is updated on the third Friday of each month with data from the previous month. Sales tax revenues will be updated in early May.

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Disclosure: The Texas Comptroller of Public Accounts has been a financial supporter of The Texas Tribune, a nonprofit, nonpartisan news organization that is funded in part by donations from members, foundations and corporate sponsors. Financial supporters play no role in the Tribune’s journalism. Find a complete list of themhere.

Correction: An earlier version of this story listed state sales tax revenue incorrectly. The amounts are in billions of dollars.

Illustrations by Emily Albracht. Mandi Cai contributed to this report.