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According to the US Bureau of Labor Statistics and the Texas Workforce Commission, Texas added 43,600 jobs nonagricultural jobs in May. Texas’ May nonagricultural job growth marked the largest over-the-month increase in employment out of any state in the nation and is the largest monthly gain in more than three years. This latest round of job growth keeps Texas’ seasonally adjusted unemployment rate steady at 8.3 percent as of the end of May and marks the fifth consecutive month of chartable growth.
Texas’ employment picture stands in stark contrast to national employment performance. For May, the seasonally adjusted unemployment rate for the entire nation was 9.7 percent, a full 1.4 percent higher than the rate in Texas.[2] Moreover, according to the Bureau of Labor Statistics, May saw virtually no growth in private sector employment on national average. Much of the .2 percent decrease in the national unemployment rate was do to an influx 411,000 temporary census workers.[3] In Texas, nine of the eleven major industries nine saw employment growth in May.
What are the primary factors in Texas's success in this area of creating employment?? They have to deal with the same Federal policies as every other state.
What are the primary factors in Texas's success in this area of creating employment?? They have to deal with the same Federal policies as every other state.
Trade with Asia being redirected from California to Texas NAFTA supercorridor with 2014 Panama Canal expansion, expansion of Mexican ports, etc.
The corridor has made that big a difference yet. Same has it han't for those other states it passes thru. One has to remember that Texas was pretty much like the auto supported states when the states in the declinig auto industry in this recession.Just as a example;the refinig industry actually employed about half as many suddenly. The refineries were sold several times during upgrades to make more efficent to make a profit on their own. That came about in 2003 that they made a profit on their own. Even now that continues in that projects now will produce twice the product from a refinery that requires 2000 by adding 400 more jobs.It takes other added jobs to make up for the losses but now there will begains increases for first time in deacdes in refining jobs.There are also many more energy jobs that will grow such as LNG projects that will increase in the future as crude starts to be more and more scarce and expensive.I the meantime other prodcuts have become more and more a important part of the economy.A examle of that is that Houston preetty much shifted from a national energy city to one of international energy ralated work. That is why so many foreign corporations have offices there and their countries as well.
Plus our property taxes are high and there are tight restrictions on HELOCS so our RE never really entered a bubble.
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