Photoshop: Pressing the Esc key to exit 'text mode' negates all the changes in the text box

This mis-designed tool frustrates me, too, although in a slightly different context.

I don't hit ECP and delete. Rather, I create a text box, insert text, then move somewhere else to create a new text section or draw a new box (new layer). But it doesn't work. The only way to do so is to abandon the text tool (click another tool) and click the Text tool again. It seems stupid and a waste of time to have to turn off the text tool and turn it back on just to continue text elsewhere.

Thanks for the prompt reply, Chris. I was afraid of that. No way am I going to upgrade to CC 2015, as I can't afford the subscription business model, obviously intended to increase profits. Do you know if the text tool is more friendly in Photoshop Elements, which I understand still can be purchased by version?