Texas clear winner in 10 year jobs growth
The Business Journal's On Numbers:
Texas has enjoyed an unequaled economic boom the past 10 years.Let's see. Texas is a right to work state with no income tax. It actively exploits energy development rather than restricts it. It is not over regulated. It is not that difficult a formula, unless you are a liberal.
The inventory of private-sector jobs in Texas increased by 732,800 between April 2001 and the same month this year, according to an On Numbers analysis of new federal employment data.
No other state registered an increase of more than 100,000 private-sector jobs during the decade. Only 19 states and the District of Columbia posted any gains at all.
Texas avoided the real-estate bust that decimated the economies of several large Sunbelt states, including California and Florida, during the 2008-2010 recession. It consequently was positioned for a faster takeoff once the national economy began improving, allowing it to create 251,700 new jobs in the past year alone.
California suffered the biggest decline during the decade. It had 623,700 fewer private-sector jobs last month than it did a decade ago. Michigan was next with a 10-year loss of 619,200 positions.