The Texas Growth Machine – from City Journal

by Marilou Long on March 12, 2013

in Employment,Energy,taxes

Even though U.S. unemployment remains high at 7.7%, it is still showing steady improvement.  For the twelve months ended in February, 2.0 million jobs were added  which is the best pace since 2006.  Texas has been leading the country in adding jobs.  From the linked article titled”:

The first thing to point out is that Texan job creation has far outpaced the national average. The number of jobs in Texas has grown by a truly impressive 31.5 percent since 1995, compared with just 12 percent nationwide, according to Bureau of Labor Statistics data (see Figure One). Texas has also lapped California, an important economic rival and the only state with a larger population. The Texas employment situation after the financial crisis was far less spectacular, of course, with the number of jobs growing just 2.4 percent from 2009 through 2011. But that was still six times the anemic 0.4 percent growth rate of the overall American economy.

The article then lists numerous reasons for the job growth outperformance: a pro-business climate characterized by low taxes and sensible regulations, a high quality workforce, and a low cost of living.  Since 2000, there has been a net inflow of people from other states of 1,000,000.  The energy boom has also contributed to the growth.  Welcome to Texas!

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