Tuesday, July 22, 2014

The Texas Model Begets Prosperity

"As for every man to whom God has given riches and wealth, and given him power to eat of it, to receive his heritage and rejoice in his labor—this is the gift of God."
Ecclesiastes 5:19

Great catch from TPPF on some national economic data released last week:
AUSTIN – Today the U.S. Bureau of Labor Statistics released the Regional and State Employment and Unemployment Summary for June 2014. The Texas Public Policy Foundation’s Center for Fiscal Policy Economist Dr. Vance Ginn released this statement on another month of job growth in Texas.

“Today’s state employment report further demonstrates that the Texas model of limited government and individual opportunity works to create abundant jobs for people across the income spectrum. This is a model other states and Washington, D.C., would be wise to adopt.

“Over the last twelve months, Texas added 371,000 net nonfarm jobs across all eleven major industries. This total was the highest in the nation and the associated annualized job growth rate of 3.3 percent surpasses most states and is almost double the national average’s rate of 1.8 percent. Robust job growth in Texas has led to a decline in the state’s unemployment rate over the last year from 6.4 percent to the current rate of 5.1 percent. This rate is a full percentage point below the national average and more than two full percentage points below the rate in California.
Read the whole thing here.

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