Pros And Cons Of Job Growth Of Texas

The U.S. employment rate has fallen, resulting in the addition of 173000 jobs, which is below expectations. This is mostly due to people searching for jobs or giving up on doing so. This, along with a jittery stock market and uneven growth, has created doubt in the U.S. economy’s ability to handle a rate increase. Inflation and economic growth also contributes to the unemployment rate in the U.S.

Texas is continually changing and developing. Like all change some would say it comes with the bad and the good. As discussed in the Texas Politics, The recent revision in to the state tax system successfully placed a tax cut on property but did very little to fund public schools. Education is the basis in which we mold our future generation and should be treated with such high importance.

Texas would be the 14th largest economy in the world as a stand-alone country by Gross Domestic Product. The state is border line healthy but does have a growing GDP. The infrastructure is average definitely room for improvement. It is said that Texas is going to have 12.4 percent more revenue to spend in the next TWO budget years. I define Texas’s economy as borderline healthy even though everything is looking positive for Texas because just two years ago there were panics in certain areas of being in debt. They are now getting their state back to being healthy and as long as they keep making smart decisions and start working on the cities/towns little by little they will remain healthy.

During the great recession in 2007, many Texas citizens believed their dreams were shattered. Even though the great recession had tainted Texas citizen’s lives forever. Still, the Texas economy has grown and is expanding. Texas has remained a top state for employment that is growing, population has increased, and has been ranked number two for the percentage of change in personal income growth by state.

According to Staff review of the Economic Situation for January 28-29, the economic growth rate picked up in the second half of 2013. There was a gradual increase in the total payroll employment and a decline in unemployment rate. Consumer price inflation was still performing poorly than expected, while longer-term inflation expectations remained stable.

The State of Texas has led population growth in the U.S. for several years, and Dallas is one of the fastest growing major U.S. cities. The Dallas-Fort Worth area has seen the greatest population growth in Texas, particularly in the northern suburbs of Allen, Frisco, McKinney and Plano. By 2020, North Texas will have 1-2 million more residents. It 's projected that Latinos will reach 3.6 million in 2020, surpassing the estimated 3.2 million non-Hispanic whites in the area (Texas Population 2020 Projections, 2014). Hispanics will become the largest ethnic group in DFW by 2020 according to population estimates.

The anecdotal explanation for the American economy for years has been that the number of jobs have increased but wages have not grown as rapidly. This held true again on Friday, April 1, 2016 as 215,000 jobs were added to the US economy. Because this amount exceeded the predicted 199,000 jobs, this gain was considered a healthy one.

In addition to high-paying salaries, the residents of Holly Springs don’t have to search too hard to find a job. The city’s job growth is approximately 3.71 percent and it’s likely to continue. Many employers in and around Holly Springs include:

Due to the never ending media of Donald Trump and the election we know how important jobs were going to be once he was elected. Trump’s want for jobs to be brought back to America and bringing firms back onto the United States soil rather than overseas has so far not seen a negative side in the first three months of his presidency in 2017. In March over 98,000 jobs were created among the private sectors, this number is much lower compared to the 219,000 jobs in February and 216,000 jobs created in January. With that being said the nations employment number did not significantly increase in March because 30,000 jobs were lost on the retail side, which is most likely due to seasonal unemployment. Over the past three

Job growth is expected to expand throughout the future years especially in 2014 due to the health care is extended to expand at a rapid rate. Referring to figure 1.2. Below the statistics show the historical employment rates in a hundred thousand figures.

The Bureau of Labor Statistic’s July employment report shows the unemployment rate unchanged at 5.3%. Total nonfarm payroll employment rose 215,000 in July. Previous job estimates in May and June, respectively, were revised to 260,000 and 231,000. The economy added 14,000 more jobs in both months than previously estimated.

Currently, the unemployment rate, inflation rate, and GDP growth rate are 5.8%, 1.88%, and 3.9%, respectively (Fred). The unemployment rate is higher than the full employment rate and the inflation rate is lower than the targeted 2% inflation. However, the positive GDP growth rate indicates that the economy is recovering. The current recovery is different from any other recoveries. The current recovery is a “lackluster recovery.” According to Joel Naroff, there are two reasons. The first reason is “the collapse of the housing and finance sectors” and the second reason is “domestic hiring did not occur as it had previously” (Naroff). Even though the economy recovered, “the unemployment rate was always going to fall slower,” because of the globalization of the labor supply (Naroff). During the early-1980s recovery, payrolls rose by 1.1 million and the manufacturing added 137,000 workers, in September 1983 alone (Naroff). However, this would never happen in current recovery because jobs go to both domestic and global workers (Naroff).

Furthermore, there is a decent chance of an upside surprise to 2014 growth. Rational investor’s investments, spending and confidence are still below than the expected level what would be considered normal levels by the standards of past economic expansions. As the job growth becomes strong and consumers feel more protected then a righteous way of spending is getting better, more consumer income begetting more spending could be initiated. If this occurs rapidly then the quarterly growth is likely to exceed an annually at the rate of 3%. But if this does not happens in 2014 than it is nevertheless very likely to happen before the end of 2015. (Payne, 2014)

Job growth further slowing. After all, since employment is a lagging indicator, it can take a few quarters to respond to changes in economic activity.

• Observed wage increases of 2 percent to 3 percent in 2013 and predicted a similar increase in 2014.