With jobs and the economy on everyone’s mind these days, including the President, I thought it might be helpful to highlight some big picture points on the Texas Miracle.

On Job Creation
From March 2012 to March 2013 (the latest state-data available), Texas created more jobs than any other state.  According to the Bureau of Labor Statistics, “the largest over-the-year job increase occurred in Texas (+329,500) followed by California (+285,900), and Florida (+141,300).”

What’s more, Texas also added more jobs as a percentage of its workforce from March 2012 to March 2013 than any of the other largest states.

[[{“type”:”media”,”view_mode”:”media_original”,”fid”:”11446″,”attributes”:{“alt”:””,”class”:”media-image”,”height”:”275″,”style”:”vertical-align: middle;”,”typeof”:”foaf:Image”,”width”:”472″}}]]

On Unemployment
Texas’ unemployment rate for March 2013 was 6.4 percent, more than a full percentage point below the current U.S. unemployment rate, 7.5 percent.  Including this latest data point means Texas’ unemployment rate has been at or below the national rate for 75 consecutive months.  

[[{“type”:”media”,”view_mode”:”media_original”,”fid”:”11447″,”attributes”:{“alt”:””,”class”:”media-image”,”height”:”220″,”style”:”vertical-align: middle;”,”typeof”:”foaf:Image”,”width”:”402″}}]]

On Economic Recovery
According to the Texas Comptroller, “Texas employment fell by more than 422,000 during the recession, reaching its low point in December 2009, but returned to its pre-recession peak in November 2011.  By February 2013, the state had added an additional 454,000 jobs.  In the U.S. as a whole, only 67 percent of recession-hit jobs were recovered by March 2013.”

On Economic Growth
According to the Texas Comptroller, “In calendar 2012, Texas’ real gross domestic product grew by 3.2 percent, compared with 2.2 percent for the U.S.”

On the State-Local Tax Burden
According to the Tax Foundation, Texas’ 2010 state-local tax burden ranks as the 45th lowest in the U.S.  The only states with a lower tax burden are: Wyoming (46th); Louisiana (47th); Tennessee (48th); South Dakota (49th); and Alaska (50th).  This means that Texas has the lowest state-local tax burden of any of the large states.

On Being CEO Magazine’s “Best State for Business”
As previously discussed (see here) Chief Executive magazine surveyed more than 700 CEOs from around the nation and they agreed: Texas is the top state for business.  This year’s recognition makes for the 9th consercutive year that Texas has been named the top spot for business.  Governor Perry cited the state’s commitment to “the conservative principles of restrained spending, low taxes, predictable regulations and fair courts” as the public policy prescriptions that have laid the foundation for Texas’ success.

[[{“type”:”media”,”view_mode”:”media_original”,”fid”:”11431″,”attributes”:{“alt”:””,”class”:”media-image”,”height”:”242″,”style”:”vertical-align: middle;”,”typeof”:”foaf:Image”,”width”:”299″}}]]