Tag: job growth

Trade Helps Explain Texas-Sized Job Growth

As its governor, Rick Perry, weighs a run for the White House, Texas has drawn attention for its healthy job growth. Since the recession ended in June 2009, Texas has accounted for half of the net new jobs added to the U.S. economy, according to the lead story in this morning’s USA Today. That’s quite a record for one lone state.

We’ll leave it to others for now to argue over how much credit Gov. Perry can claim. Some credit surely goes to high oil prices, fueling job growth in a sector important to the Texas economy. Another reason for its relatively strong job growth is a friendly business climate, including no state income tax and relatively light regulations. And for those who scapegoat trade for the nation’s persistently high unemployment rate, consider that Texas is the nation’s number one trading state. As the USA Today story notes:

Overseas shipments by Texas’ strong computer, electronics, petrochemical and other industries rose 21% last year, compared with 15% for the nation, according to the Dallas Federal Reserve Bank. The state also benefits from its proximity to Latin American countries that are big importers of U.S. goods … The surge creates jobs for Texas manufacturers and ports.

As I can attest from recent speaking engagements in San Antonio and Laredo, Texans have embraced their state’s position as the nation’s leading gateway for trade with NAFTA-partner Mexico and the rest of Latin America.

While politicians and union bosses from other states grumble about allegedly unfair trade, the latest trade and job numbers show that the people of Texas are making the most of the opportunities created by our more open economy.

 

Is National Journal Giving ObamaCare a Big, Wet Smooch?

Come September, National Journal will host a policy summit titled “Prescription For Growth,” funded by Eli Lilly, that will probe “the potential impact of recently passed health care reform as an economic engine” and ask whether “health care reform [will] serve as a jobs creator and accelerate growth in health-related industries?”

Oy, where to begin?

I suppose I could start with how a news organization that bills itself as “the leading source of nonpartisan reporting” could lend ObamaCare a positive gloss by calling it “reform” – a term that even NPR declines to ascribe to actual legislation (for that reason).

Next, there’s this inane question of whether ObamaCare will spur job growth in the health care sector.  With two new health care entitlements and maybe a trillion dollars of new health spending…gosh, d’ya think?

But then there’s the presumption that creating new health care jobs is a good thing.  You’d think it would be.  After all, unemployment is near 10 percent.  But one of our biggest health care problems is that there are too many health care jobs.  The Dartmouth Institute’s Elliot Fisher has quipped, “In theory, we could send a third of the U.S. health care workforce to Africa and improve the health of both continents.”  ObamaCare will just make this country’s health care sector even more bloated and inefficient.

Wrap your head around all that this summit aims to accomplish.  It could give a boost to an unpopular and embattled law by taking one of the law’s biggest liabilities and dressing it up as an asset.  It could create a meme that helps turn around President Obama’s low approval rating on the economy – never mind that ObamaCare is stifling the right kind of job creation.

Of course, I may have this summit all wrong.  It may give all these issues a fair hearing.

Did I mention the summit’s sponsor is one of the biggest special-interest beneficiaries of ObamaCare?  (Tim Carney, call your office.)