Thursday, April 14, 2011

California (-1.15m jobs) Goes On a Trade Mission To Beg Texas (+165k jobs) for Its Jobs Growth Recipe

Bloomberg -- "When California Lieutenant Governor Gavin Newsom begins meetings in Austin with Hardee’s hamburgers chief Andrew Puzder, local Chamber of Commerce Chairman Bobby Jenkins and Texas Governor Rick Perry, it’s because the most- populous state lingers in a funk, even as the U.S. pulls out of the deepest recession in half a century.

The world’s eighth-largest economy has lagged in job growth since California-based lenders such as Countrywide Financial Corp. led America into the housing bust. Unemployment in the state is 12.2 percent, more than a third higher than the national average. While signature industries such as technology, trade and tourism have rebounded, construction and government employment are weak or falling.

Newsom is one of two California Democrats in the talks starting today on how the Lone Star State created 165,000 jobs over the past three years, while California, with the country’s largest workforce, lost 1.15 million (see chart above)."

HT: Joe Vranich

9 Comments:

At 4/14/2011 10:54 PM, Blogger NormanB said...

Calif, stupid. We just passed a bill to mandate 33% renewables for our utilities which will do nothing more than raise our energy bills which gives us less money to buy what we need and want. Then there is the high speed train that if built will produce about a $10B per year deficit or about $250 per year per capita. We are acting like these are plush times, when we can spend on the niceties. We are delusional.

 
At 4/15/2011 12:25 AM, Blogger Michael CA said...

Is this a joke? A fourth grader can figure out why CA has lost huge numbers of jobs to Texas. There is a reason California is considered one of the most, if not the most, non-business friendly states in the country.

This trip is just a waste of tax payer money.

 
At 4/15/2011 4:20 AM, Blogger aldom said...

Is this story from THE ONION?

I mean, really?

 
At 4/15/2011 7:25 AM, Blogger Paul said...

They seriously had to go ask the Texans what works? Tells you all you need to know about why California is screwed.

 
At 4/15/2011 8:13 AM, Blogger Michael Hoff said...

Gee, what a mystery, Gavin. Why, oh why, aren't jobs rebounding in an environment of oppressive regulation and crippling taxes? I just can't figure it out! I mean, check out our weather forecast!

What a twit.

 
At 4/15/2011 9:11 AM, Blogger morganovich said...

newsome is a blow dried lightweight.

he was elected in SF among high hopes and turned out to just be one big PR stunt.

he will never get that the issue is low taxes, cheap energy, fewer labor and business restrictions, and less progressive meddling.

i mean, let's face it, one the face of it california is a MUCH nicer state to live in that texas in terms of beauty, amenities, and climate. if people are leaving in droves, it's because something really major is causing it.

a 10.7% income tax and some of the highest real estate and utility costs in the nation certainly is a major factor.

it's why i took my business out of CA.

 
At 4/15/2011 9:30 AM, Blogger Maarek said...

Is there any way to get that chart with the same scale applied to both states? Charts with different, non-zeroed scales always look suspicious to me.

 
At 4/15/2011 1:18 PM, Blogger juandos said...

"i mean, let's face it, one the face of it california is a MUCH nicer state to live in that texas in terms of beauty, amenities, and climate"...

I'm not sure what you actually mean by 'amenities' but I for one (born & raised in Texas) would most definitely take issue with the rest of it...

 
At 4/15/2011 2:47 PM, Blogger Michael Hoff said...

"I'm not sure what you actually mean by 'amenities' but I for one (born & raised in Texas) would most definitely take issue with the rest of it..."

Uh-oh. Everything's big in Texas. Especially the grudges.

 

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