AUSTIN – The Texas Public Policy Foundation today released The Texas Model: 3rd Quarter 2014 Employment Update. The paper, authored by the Foundation’s Economist Dr. Vance Ginn, highlights labor market trends through the third quarter of 2014 for the top four most populated states and national average, showing that Texas remains the job creation leader because of its limited government approach.
“Through the third quarter of 2014, the Texas model of low taxes, sensible regulation, and good lawsuit climate continued to contribute to a healthy labor market compared with national averages and other large states,” said Ginn. “During the 12-month period through September 2014, Texas employers created a record 414,700 net nonfarm jobs for an annual job growth rate of 3.7 percent that was almost twice the national rate and far outpaced the rates in other large states. This job growth was in all major sectors providing Texans from all walks of life opportunities to prosper.
“To improve on the success of the Texas model, state legislators should improve the job creation climate by eliminating the state’s costly, complex business margin tax and effectively limiting state spending growth by reforming the tax and expenditure limit.”
To read the full report, visit: http://txpo.li/3rd-q-2014-update
Vance Ginn, Ph.D., is an Economist in the Center for Fiscal Policy at the Texas Public Policy Foundation.
The Texas Public Policy Foundation is a non-profit, free-market research institute based in Austin, Texas.