Msg. 41339 of 65535 (This msg. is a reply to
41336 by
Zimbler0)
Jump:
Despite being one of the loudest critics of President Obama's stimulus, Perry used billions of dollars of federal money to patch Texas' budget shortfalls, and was thus able to create and maintain lots and lots of public sector jobs. In fact, if you look at net job creation between 2007 and 2010, it's clear the only thing keeping Texas buoyant was government jobs.
Check out the below chart from Jared Bernstein -- a fiscal policy expert at the Center on Budget and Policy Priorities, and former chief economist to the stimulus bill's top cop, Vice President Joe Biden. It shows pretty conclusively that the recession cost Texas 178,000 private sector jobs -- a fairly small share for a populous state, when you consider that crisis cost the country many millions. But in the same period, it added 125,000 public sector jobs -- nearly half of all government jobs created in this period nationwide. Put together, the Texas has only lost 53,000 jobs total during the downturn.
Source: BLS data.
As Bernstein notes this "shows Texas to be following a traditional Keynesian game plan: as the private sector contracts, turn to the public sector to temporarily make up part of the difference."
Additionally, Perry's papered over some looming budget gaps with fancy paperwork, and unless he or the next governor take steps (like raising taxes) to balance the books, he'll have to cut spending (read: public sector jobs) and many of his gains will have proved illusory.
That's doesn't match Perry's private market, anti-government rhetoric very well, which is why he and his supporters will shout "Texas miracle!" if they're confronted with these facts, to obscure the underlying reality.
Clo,
So far I have not found a break down for government
jobs versus private sector jobs in Texas . . .
But I have seen several 'obvious' left wing nut
case sites claiming the bulk of the new jobs in
Texas are 'government' . . .This site suggests the
opposite.
(Note the line "Despite job declines in the government and information sector,")
» Fort Worth Business Press » FWBP News » Breaking News | The Fort Worth Business Press | Fort Worth, TX
August 4
Report: Texas private sector job growth robust
Texas’ private sector has added 251,900 jobs for the year ending in June – an annual growth rate of 3 percent – according to the latest monthly review of the Texas economy by the Real Estate Center at Texas A&M University.
The pace is nearly double that of the rest of the country. For the year, the nation’s private sector posted a 1.7 percent growth rate.
Despite job declines in the government and information sector, the state added 225,200 nonfarm jobs for the year. The 2.2 percent Texas nonfarm growth rate compared with a 0.9 percent increase for the nation.
“Texas’ seasonally adjusted unemployment rate was 8.2 percent in June,” said Research Economist Ali Anari with the Real Estate Center, in a release. “That’s up from 8.1 percent from the same month last year. The nation’s rate decreased from 9.5 to 9.2 percent.”
The state’s mining and logging sector ranked first in job creation, posting an annual employment growth rate of 16.8 percent. The average number of active rotary rigs increased from 700.9 in July 2010 to 887.2 this month, according to Hughes Tool. Co.
Texas’ construction industry had the second biggest job increase. The 30,900 new jobs were an annual growth rate of 5.4 percent. The 57,200 new professional and business services jobs ranked that sector’s annual growth rate third at 4.5 percent.
With 31,200 jobs gained, the state’s leisure and hospitality industry (arts, entertainment, recreation, accommodations and food services) was next with an annual growth rate of 3 percent.
Geographically, the Longview Metropolitan Statistical Area’s (MSA) 4.2 percent growth rate ranked it first in job creation. Odessa, Dallas-Plano-Irving, Laredo, College Station-Bryan, Midland and Corpus Christi followed in that order. The average growth rate for 26 Texas MSAs was 2.2 percent.
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