NEW YORK ( – When it comes to which states will add the highest percentage of jobs over the next few years, Forbes reports Texas will lead the way.

Total employment here is forecast to expand 2.9 percent annually through 2015, according to research firm Moody’s Analytics. That represents 1.6 million new net jobs for the state over five years.

Forbes points to Texas’ “low tax, business-friendly climate with a surging population that offers a nearly unlimited supply of young labor” as reasons for the growth. However, it also acknowledges that the state’s rapid population growth has pushed its unemployment rate to 8.5 percent, the highest in 24 years.