The numbers are early — but incomplete — indicators of how dramatically and suddenly the state’s economy has collapsed under social distancing orders officials issued to curb the still growing public health crisis spurred by the novel coronavirus.
COVID-19 Recession in Texas
The coronavirus pandemic has steered the Texas economy into a recession as the state’s unemployment rate remains high and many businesses struggle to survive. Several sources of government and nonprofit aid have either expired or dried up. Economists say the ongoing public health crisis will slow the recovery for individual Texans, business owners and entire industries. For the latest news on this topic, sign up for our weekly economy newsletter and follow energy and economy reporter Mitchell Ferman on Twitter.