Do you need further proof that Texas is the place for abundant, good paying jobs? Look no further.
Two recent reports by the Dallas Federal Reserve provide evidence jobs were plentiful in Texas last year—with more expected this year—and, contrary to the casual observer’s opinion, these were across all income groups.
The authors of the first report discuss the fact that Texas’ job growth rate last year was the third highest in the nation (see figure below).
After last year’s relatively strong job growth, the authors also note that 2014 looks to be another good year:
Recent increases in the Texas Leading Index have been strong and broad-based. Index gains along with a pickup in job growth suggest that 2014 employment will increase by 2.5 to 3.5 percent. Texas will likely continue growing faster than the national average and most other states.
Many discount these employment gains as low-wage jobs that impoverish Texans. However, the authors of the second report find that job gains since 2000 have been across all wage groups, which is different from the rest of the nation.
Some also argue job growth is primarily in the oil and gas sector, but the data tell a different story.
No matter someone’s philosophical view of government, the success of improving the lives across the income spectrum with a fiscally conservative Texas model relative to other states must not be taken for granted.