Texas is often hailed as having one of the most vibrant job markets in United States. According to a recent report, Texas is living up to these expectations.
Kurt Badenhausen of Forbes writes that, “Total employment in Texas is forecasted to expand 2.9 percent annually through 2015.” That’s a total of “1.6 million new net jobs” for the Lone Star State over the next few years. What’s the reason for this impressive growth in the labor market? Badenhausen argues that it is due to “a low tax, business friendly climate with a surging population that offers a nearly unlimited supply of young labor.”
It is those free market principles that have allowed Texas to outperform other states in the nation during this prolonged period of economic recovery. The marketing of Texas as a pro-business state has convinced many companies to relocate from what Badenhausen refers to as “union-shop states.” This movement has fueled Texas’ ongoing economic growth.
People and businesses vote with their feet. The recent taxpayer exodus from Illinois and the relocation or expansion of companies such as General Electric, eBay, Electronic Arts, and 3M make the choice clear. There is no better argument for free market principles than those choices made by citizens to live and work in a state that practices those very fundamental ideas.