The Texas Job Boom Could Propel Governor Rick Perry Into The White House
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As Texas Governor Rick Perry gets “serious” about making a run for the White House in 2012 he has a strong statistic to crush President Obama with. Texas accounts for 37% net of all new jobs since the recovery began in 2009. From The Wall Street Journal:
Richard Fisher, the president of the Federal Reserve Bank of Dallas, dropped by our offices this week and relayed a remarkable fact: Some 37% of all net new American jobs since the recovery began were created in Texas. Mr. Fisher’s study is a lesson in what works in economic policy—and it is worth pondering in the current 1.8% growth moment.
Using Bureau of Labor Statistics (BLS) data, Dallas Fed economists looked at state-by-state employment changes since June 2009, when the recession ended. Texas added 265,300 net jobs, out of the 722,200 nationwide, and by far outpaced every other state. New York was second with 98,200, Pennsylvania added 93,000, and it falls off from there. Nine states created fewer than 10,000 jobs, while Maine, Hawaii, Delaware and Wyoming created fewer than 1,000. Eighteen states have lost jobs since the recovery began.
The data are even more notable because they’re calculated on a “sum of states” basis, which the BLS does not use because they can have sampling errors. Using straight nonfarm payroll employment, Texas accounts for 45% of net U.S. job creation. Modesty is not typically considered a Texas virtue, but the results speak for themselves.
Texas is also among the few states that are home to more jobs than when the recession began in December 2007. The others are North Dakota, Alaska and the District of Columbia. If that last one sounds like an outlier at first, remember the government boom of the Obama era, which has helped loft D.C. payrolls 18,000 jobs above the pre-crisis status quo. Even so, Texas is up 30,800.
This is why California lawmakers went to Texas to try and see how a state government can help foster job creation. Sadly, the Democrats who run this state have no real interest in creating jobs that are not dependent on the bureaucracy they control. Democrats here in California would rather give illegal immigrants in-state tuition, empower the unions and regulate the economy death than ease restrictions to encourage job creation. Perry could hammer Obama on a daily basis with the strong job creating economy in Texas. We will just have to wait and see if he gets in the race.
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