Chart of the Day: Texas Jobs vs. California Jobs
CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Sunday, July 24, 2011
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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10 Comments:
Maybe Rick Perry should run for President.
You really have to be in California to know the true stupidity of our politicians and thus our populus but the Texas analogy is off base as Texas is benefiting mightily from energy especially the natural gas plays.
Norman B,
Perhaps you really have to be in Texas to understand that it's economy is much broader than simply energy.
Three industry groups account for all the job growth in Texas since Jan-2008:
Leisure & hospitality: +108K
Education & health services: +163K
Government: +89K
That's probably true for the nation as a whole. But what's different in Texas is that other industry groups, such as Transportation, Wholesale Trade, Retail Trade, and Professional/business services have not seen large declines.
Mining - the sector which includes shale gas as well as offshore extraction - is an insignificant employer, accounting for only about 1% of Texas jobs.
This comment has been removed by the author.
And, being a former Californian myself, I can tell you for certain that off the shores of California lies plenty of oil to drill for. Heck, it is practically BEGGING to be drilled as the oil sometimes seeps up to the surface through fissures in the sea floor caused by oil pressure from oil trying to come up on its own. It'd actually be better for the environment if they allowed the offshore drilling. It would stop most of the oil from being "spilled" naturally.
That'd be a whole lotta leathernecking jobs right there.
James
California has the 2nd highest state unemployment rate. (June, 2011) 11.8%. National unemployment rate 9.6%.
National unemployment rate not including CA is only 8.8%, making the CA unemployment rate 34.1% higher than the other 49 states.
http://www.bls.gov/lau/
If trend lines continue, with luck, 3-4 months CA will overtake top ranked Nevada for the coveted numero uno ranking in this category.
well.. I can't argue with Mark Perry's chart....
and thanks for providing it.
"You just admitted, once again, to not understanding unfunded liabilities in one of your recent comments. before we can address that, even as it applies to SS, you need to understand more about SS and the Trust Fund."
au contraire
we proved without a doubt that you do not understand the concept... much less the difference between 45billion and 1.5 trillion.
I asked you what the unfunded liability for Medicare Part B was since it is paid for with taxes and not FICA and guess what? No answer.
then I asked how Medicare Part B differed from DOD in terms of unfunded liabilities since both are primarily funded the same way - from taxes - and guess what?
no answer.. or some lame excuse of an answer.
proven without question you don't know bat crap from guano when it comes to "unfunded liabilities".
" Why can't or won't you address the statements and questions presented to you? How can we ever resolve your lack of understanding if you evade & obfuscate like that?"
because 45 billion is a gnat on a dogs butt compared to 1.5 trillion - WHICH - YOU REFUSE TO ANSWER.
why don't YOU answer about the deficit and the debt and "unfunded liabilities" with regard to Medicare PartB?
I'd say, I've answered far more than you have.
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