AUSTIN – The Texas Workforce Commission’s latest employment report continues the string of positive news about the Lone Star State’s economy, according to the Texas Public Policy Foundation.
Texas’ economy added 12,500 net new jobs in May 2012, making this the 22nd consecutive month of employment growth. Meanwhile, Texas’ seasonally adjusted unemployment rate for May 2012 remained at 6.9 percent, more than a full percentage point below the national average of 8.2 percent. Given today’s new numbers, the state’s unemployment rate has now been at or below the national average for 65 consecutive months.
“While economic recovery in other states is struggling, Texas’ rebounding economy continues to show strong signs of improvement,” said Talmadge Heflin, director of the Foundation’s Center for Fiscal Policy. “It is no coincidence that Texas, bolstered by conservative public policies, continues to lead the nation in job creation, adding a total of 237,100 net new jobs over the past 12 months.”
“Every private sector industry in Texas has added jobs over the past year,” Heflin continued. “That’s quite an accomplishment at a time when the U.S. private sector economy is still trying to recover the 4.6 million or so jobs it lost during the Great Recession.”
“Compared to this time last year, there are 103,000 fewer Texans unemployed, even though our state has 182,000 more people in the civilian labor force,” said Foundation President Brooke Rollins. “This lends further proof to the power of the Texas Model: one of low taxes and spending, low and predictable regulations, and a sound civil justice system.”
Talmadge Heflin is director of the Center for Fiscal Policy at the Texas Public Policy Foundation. Heflin served 11 terms in the Texas House and chaired the Appropriations Committee in 2003, leading the Legislature’s successful efforts to close a $10 billion budget deficit without a tax increase.
Brooke Rollins is president and chief executive officer of the Texas Public Policy Foundation.
The Texas Public Policy Foundation is a non-profit, free-market research institute based in Austin.
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