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Texas Leads Best States For Future Job Growth

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Filed: Citizen (apr) Country: Thailand
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Rick Perry ascended from Lieutenant Governor to Governor of Texas in December 2000 when then-governor George Bush resigned after being elected the 43rd President of the United States. Perry will retire in January with the tenth longest gubernatorial tenure in U.S. history. Perry made job creation one of his principle mantras, and he has overseen remarkable employment gains under his watch with 2.1 million jobs added during his tenure. The total represents 30% of the jobs added in the U.S. since 2000 and more than twice as many as any other state.

The so-called “Texas miracle” does not show any signs of slowing either with 413,000 jobs added over the last 12 months. Texas is expected to have the nation’s fastest annual job growth rate at 2.7% over the next five years, according to data from Moody’s Analytics.

Texas has low taxes and light regulation, but Perry’s record also has benefited from the headwinds at his back regarding energy. Oil prices hovered around $30 a barrel between 1986 and 2002 before a stunning climb that peaked at $145 in 2008. Prices plummeted during the Great Recession and over the past month, but oil is still trading around $80 a barrel. The higher prices have propelled massive investments in Texas both financially and in regards to human capital. “Texas has done well primarily because it is an energy center. You really can’t get around that,” says Edward Friedman, an economist who tracks Texas for Moody’s Analytics. “Every major energy and oil company has realized over the last 15 years that the only place to be is Houston.”

Texas’ prosperity and pro-business environment have led companies outside of the energy sector to flock to the state in recent years. Toyota announced plans to move its North American headquarters from California to a new campus in Plano that will create 4,000 jobs. The Texas Enterprise Fund granted Toyota $40 million to sweeten the pot. San Francisco brokerage firm Charles Schwab is moving hundreds of jobs out of California with Austin and El Paso targeted for company expansion. Apple is undergoing an expansion that will roughly double its Austin workforce by hiring 3,600 new employees.

Texas ranks first for both its current economic climate and growth prospects in our annual study on the Best States for Business. There are 118 of the largest companies in the U.S. based in Texas, including heavyweights like AT&T , Exxon Mobil and Dell . The $1.5 trillion Texas economy is expected to expand 4.1% annually over the next five years, which is second best in the nation. One of the only things holding Texas back in our Best States ranking is the education rate of its labor supply. Only 82% of adults have a high school degree, second lowest among the 50 states.

North Dakota clocks in with the second fastest job growth forecast through 2018 at 2.6% a year. North Dakota is also an energy story with the development of the Bakken oil shale fields (only Texas produces more oil than ND). North Dakota had the country’s most robust economy over the past five years with annual growth for jobs (3.9%), incomes (3.6%) and gross state product (9.5%) all best in the nation. The state operates at full employment and has thousands of unfilled jobs. It unveiled a “Find the Good Life in North Dakota” ad campaign this year to attract skilled workers ranging from engineers to nurses.

Rounding out the top five are a few tourist hot spots that were crushed during the Great Recession when their real estate booms collapsed. Nevada ranks third at 2.5% annual growth with Florida and Arizona close behind. Midwestern and northeastern states were shut out of the top 10. Illinois is projected by Moody’s Analytics to have the slowest employment gains over the next five years at 0.7% annually. U.S. employment as a whole is expected to expand 1.7% per year.

Source: http://www.forbes.com/sites/kurtbadenhausen/2014/11/12/texas-leads-best-states-for-future-job-growth/


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Filed: Citizen (apr) Country: Ecuador
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The Texas economy certainly is booming. The local news here ran a story tonight about how folks with no degree of any kind can earn $60,000 to $100,000 per year in jobs as welders, et al., if they have a little training and can prove that they can do the job.


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Filed: Citizen (pnd) Country: Ireland
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What do the top 5 states have in common? Republican Governors and low taxes.

Did Kansas make the list? :rofl:


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What do the top 5 states have in common? Republican Governors and low taxes.

That was the bottom 5 states, actually. Texas is # 5 from the bottom when it comes to poverty rates.

People do worse only in Alabama, New Mexico, Louisiana and Mississippi.

Carry on!

http://en.wikipedia.org/wiki/List_of_U.S._states_by_poverty_rate

I suspect this is why businesses love Texas so much - it's easy to have people slaving for minimum wage there.

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Filed: Citizen (apr) Country: Thailand
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That was the bottom 5 states, actually. Texas is # 5 from the bottom when it comes to poverty rates.

People do worse only in Alabama, New Mexico, Louisiana and Mississippi.

Carry on!

http://en.wikipedia.org/wiki/List_of_U.S._states_by_poverty_rate

I suspect this is why businesses love Texas so much - it's easy to have people slaving for minimum wage there.

Poverty rates? I thought the thread was about job creation. Since you brought it up, I suppose in a lot of the blue states is pretty easy to claim low poverty rates, since such a high percentage of people are living off of govt. handouts which keeps them just above the poverty line. In your world, that would be considered economic success!

Also, the the cost of living is cheap in Texas. You don't have a state income tax, so there's ~5% more money people get to keep every year.

You, and people like you, will never understand that business creates economic growth. Not government.


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Poverty rates? I thought the thread was about job creation. Since you brought it up, I suppose in a lot of the blue states is pretty easy to claim low poverty rates, since such a high percentage of people are living off of govt. handouts which keeps them just above the poverty line. In your world, that would be considered economic success!

Also, the the cost of living is cheap in Texas. You don't have a state income tax, so there's ~5% more money people get to keep every year.

You, and people like you, will never understand that business creates economic growth. Not government.

People that live off of government benefits count into the poverty stats. They usually qualify for those benefits because their household income is below the poverty line. But thanks for playing.

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Filed: Citizen (apr) Country: Thailand
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People that live off of government benefits count into the poverty stats. They usually qualify for those benefits because their household income is below the poverty line. But thanks for playing.

Wrong again. (Not surprising)

Gross Monthly Income
Eligibility Standards
(130 Percent of Poverty Level)

Its gross monthly income generally must be at or below 130 percent of the poverty line, or $2,116 (about $25,400 a year) for a three-person family in fiscal year 2014. Households with an elderly or disabled member need not meet this limit.

Source: http://www.cbpp.org/cms/index.cfm?fa=view&id=2226

I bolded and underlined it for you in case you're not wearing you govt. issued glasses.


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Poverty rates? I thought the thread was about job creation. Since you brought it up, I suppose in a lot of the blue states is pretty easy to claim low poverty rates, since such a high percentage of people are living off of govt. handouts which keeps them just above the poverty line. In your world, that would be considered economic success!

Also, the the cost of living is cheap in Texas. You don't have a state income tax, so there's ~5% more money people get to keep every year.

You, and people like you, will never understand that business creates economic growth. Not government.

Red states constantly outdo blue states in welfare dollars spent per capita. On average blue states contribute more money to the welfare system than red states and blue states get less in return for each dollar given. While a good amount of red states tout their low taxes and business friendly environment, in actuality they are using blue state money to achieve their goals.

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Filed: Citizen (apr) Country: Thailand
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Red states constantly outdo blue states in welfare dollars spent per capita. On average blue states contribute more money to the welfare system than red states and blue states get less in return for each dollar given. While a good amount of red states tout their low taxes and business friendly environment, in actuality they are using blue state money to achieve their goals.

Since you didn't post any sources for your claim, I'll take your word for it. But keep this in mind, The cost of living as well as wages are higher in blue states. The federal govt. doesn't take this in to account (except in some cases concerning Alaska and Hawaii.)

So if a person makes 120K a year in New York and another person makes 60k a year in Texas, their quality of living will be similar due to the cost of living. However, the person in New York will being pay at least twice the amount of taxes. So then folks can claim "See, Blue states are paying for red states!" When in reality living in a blue state requires much more money for the same quality of life than it does to live in a red state hence the taxes paid will be higher in those states.

All I can say is, "Thank you New York!"

The fact remains that Texas is the leader in job growth AND state net population growth. If the jobs are so terrible here, why do people keep moving here from blue states?


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Filed: Other Country: Russia
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Since you didn't post any sources for your claim, I'll take your word for it. But keep this in mind, The cost of living as well as wages are higher in blue states. The federal govt. doesn't take this in to account (except in some cases concerning Alaska and Hawaii.)

So if a person makes 120K a year in New York and another person makes 60k a year in Texas, their quality of living will be similar due to the cost of living. However, the person in New York will being pay at least twice the amount of taxes. So then folks can claim "See, Blue states are paying for red states!" When in reality living in a blue state requires much more money for the same quality of life than it does to live in a red state hence the taxes paid will be higher in those states.

All I can say is, "Thank you New York!"

The fact remains that Texas is the leader in job growth AND state net population growth. If the jobs are so terrible here, why do people keep moving here from blue states?

I bet it's not because Texas ranks #33 in quality of life.


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Since you didn't post any sources for your claim, I'll take your word for it. But keep this in mind, The cost of living as well as wages are higher in blue states. The federal govt. doesn't take this in to account (except in some cases concerning Alaska and Hawaii.)

So if a person makes 120K a year in New York and another person makes 60k a year in Texas, their quality of living will be similar due to the cost of living. However, the person in New York will being pay at least twice the amount of taxes. So then folks can claim "See, Blue states are paying for red states!" When in reality living in a blue state requires much more money for the same quality of life than it does to live in a red state hence the taxes paid will be higher in those states.

All I can say is, "Thank you New York!"

The fact remains that Texas is the leader in job growth AND state net population growth. If the jobs are so terrible here, why do people keep moving here from blue states?

Here's a link for your source. Plenty to chose from here.

http://www.bing.com/search?q=Republican+States+Receive+the+Most+Federal+Welfare++&pc=MOZI&form=MOZSBR

Yes, blue states are contributing to red states when it comes to welfare dollars spent. In return red states are able to keep their taxes lower and cost of living down. It's simple math, blue states pay more into the welfare system than red states do, but red states take more money out of the system per capita. In one of the articles in my link it states that most blue states get about a 75 cent return per dollar given to the welfare system, while most red states get over a dollar in return for each dollar they put in.

Edited by Teddy B

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Wrong again. (Not surprising)

Gross Monthly Income
Eligibility Standards
(130 Percent of Poverty Level)

I bolded and underlined it for you in case you're not wearing you govt. issued glasses.

So some of those receiving SNAP are below and some above the poverty rate. That doesn't change the poverty stats in any way, however. Remember, your claim was that public benefits reduce poverty rates. They don't. Texas is among the five states with the highest poverty rates. Spin that all you want but the fact remains: despite a friendly business climate and despite all that job growth, a larger percentage of the Texas population lives in poverty than is the case in 45 of the 50 states. Not a pretty picture, I know. But it is what it is.

Texas also leads the nation, by the way, in the number of Americans without health insurance - both in total numbers and looked at as a percentage of the state's population. Many of the jobs that are created in Texas must not be quality jobs - they seem to offer health insurance at a rate below the national average.

Edited by Mr. Big Dog

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