Texas Job Boom? Maybe!

CNN Money ran an article on the jobs in Texas, here are some exceprts:

  • Texas has created a lot of jobs over the 10 years that Rick Perry’s been governor — there’s no doubt about it.
  • Perry, who is formally launching his presidential candidacy on Saturday, is making his state’s economic prowess a centerpiece of his campaign. Already he’s been bragging about his state being the "epicenter of job growth."
  • Texas has gained more than 1 million net new jobs in the decade Perry has led the state. And it’s been going strong since the recession ended.
  • "We are home to fewer than one in 10 Americans … but four in 10 new American jobs are in our state," he told a conference of state legislators from around the nation this week.
  • But that doesn’t mean that all is well with employment in the Lone Star State. Texas leads the nation in minimum-wage jobs, and many positions don’t offer health benefits. Also, steep budget cuts are expected to result in the loss of more than 100,000 jobs.
  • Perhaps most importantly, Texas can’t create jobs fast enough to keep up with its rapidly growing population. Since 2007, the state’s number of working-age residents expanded by 6.6%, nearly twice the national average.
  • Factoring in that population growth means Texas would need to create another 629,000 jobs, or 5.6% more positions, just to reach its pre-recession employment level, according to the Economic Policy Institute.

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