While most of the nation faces enormous employment obstacles, Texas stands tall. Statistics released by the Federal Reserve Bank of Dallas and the Bureau of Labor Statistics indicates that Texas leads all states in job creation over the past two years. More impressively, looking at total net jobs gained for the entire nation during that span, Texas accounts for a whopping 50% of new jobs, according to a story in the USAToday.
From June 2009 to June 2011, the United States had a net gain of 524,000 jobs.
In that two year span, Texas added 262,000 of those new positions, exactly 50% of the total jobs. Even when looking at only the states with net job growth (ignoring the 16 states who have net job losses during that time), Texas accounts for nearly 30% of the 1 million jobs created.
While it is true that Texas has experienced population growth in the past two years as well, the rate of job growth is outpacing the rate of population growth. It could also be argued that the reason that Texas has had population growth is because so many people are attracted to the job opportunities that are more abundant here than in the other states.
Another important factor to consider is the number of companies who have relocated to Texas recently, bringing jobs and tax revenue with them. Other companies are opening new branches and divisions in Texas, while many companies with a presence in Texas are boosting their hiring. Combined, the result is many more jobs for Texas.
We recommend that you take a moment to read the complete USAToday story. It elaborates on numerous details about our job growth and the factors that have led Texas to the top. For the full story, please click here.