Mixed results for Texas economy in 2009

Houston Chronicle:

Gov. Rick Perry has made his stewardship of the Texas economy a key political achievement, boasting that the Lone Star State will lead the United States out of its deepest national downturn since the Great Depression.

Perry's attempts at economic cheerleading and back-patting have sparked a war of words between the Republican incumbent and his rival for the GOP gubernatorial nomination, Sen. Kay Bailey Hutchison, whose campaign accuses Perry of being out of touch with the pain felt by many Texans.

...

A look at the economic numbers shows a decidedly mixed bag. While the Texas economy may not be quite as robust as Perry proudly declares, statistics show that it has largely weathered the national economic storm better than many other states. While some parts of the state are booming — particularly Austin — other regions are reeling, including Gulf Coast counties hit by the double whammy of a national recession and the devastation of Hurricane Ike.

...

“I'm convinced our whole country could use a little Texas-style fiscal discipline,” he told the Values Voters summit.

Among the positive evidence cited by Perry: Texas is the nation's top destination for people relocating, with 1,000 people moving to Texas every day.

But on the downside, the governor neglects to mention that more jobs were lost last month in Texas than in any other state.

Texas shed 62,200 jobs from July to August, 19,000 more than Michigan, the state with the highest unemployment.

Although Texas' 8 percent unemployment rate remains below the national average of 9.7 percent, its jobless rate is climbing faster than most states.

...

So while Texas' economy is outperforming the nation's and doing significantly better than other large states — California lost 741,000 jobs in the last year and is grappling with an unemployment rate of 12.2 — many Texans are feeling the effects of the national recession with painful clarity.

Texas could be hurt by Democrat polices such as their anti energy cap and trade bill. While Texas has world class health care facilities, a lot of people don't buy health insurance.

The Austin economy is usually strong during any down turn because it has so many state government jobs, with teh Capito and the University carrying a lot of the load. That also explains why it has some the the highest utility rates in the state because it has so much tax exempt property. The tech sector also boost the Central Texas economy.

The contrast with California is a good one and it explains the virtues of conservatism over liberalism.

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