Texas is a behemoth of a state, bigger than most countries, but can its population support the weight of its aging as workforce ratios shift?
In terms of size, it’s fair to say Texas is a leviathan. Prodigious, by any standard, the state’s boundaries represent the most significant plot of land in the contiguous United States. Texas’ size allows it play a vital role in the country, influencing several of the nation’s most crucial economic sectors, such as housing, healthcare and energy – Houston is often referred to as the Energy Capital of the world.
To sustain its economic importance and the industries operating within, Texas houses a population of nearly 27 million, according to the Census Bureau’s 2014 estimate, and as industries continue to flourish and grow and new businesses crop up and later expand, so should the state’s working population to meet demand – or at least that’s the hopeful intention.
In an attempt to forecast where the Texas population is heading, including its demographic makeup, which will have a serious economic impact, particularly on the housing market, the Office of The State Demographer released its report “Introduction to Migration in Texas.” It looks at population trends, establishing baselines using 2010 data, and estimates population growth relative to gender and age demographics as far forward as 2050.
Interesting!