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Only 14 Cities Are Hiring At Pre-Recession Levels

From the Wall Street Journal:

Hiring Spreads, but Only 14 Cities Top Prerecession Level

By Amy Schatz | April 1, 2013

Employers are hiring more readily across the U.S., though only 14 of the nation’s 100 biggest metropolitan areas have more jobs now than they did before the 2008-09 recession.

Six of them are in Texas, according to researchers at the Brookings Institution, who recently analyzed local economic conditions through the end of 2012.

What a coincidence. Of course, this has nothing to do with Texas’s low taxes or their business friendly state government.

All of the 14 appear to have benefited in some way from a stable employment base, anchored by either universities, government agencies or high-tech hubs, helping residents avoid the worst of the job losses suffered by other areas…

So only the education industry, government and high tech sectors are expanding.

Austin, San Antonio, El Paso, McAllen, Dallas and Houston all made the list, along with Oklahoma City, another energy town. The other cities on the list of 14 are: Omaha, Neb., Salt Lake City, Pittsburgh, San Jose, Calif., Knoxville, Tenn., Washington and Charleston, S.C.

With the possible exceptions of Pittsburgh, San Jose and Washington, we suspect those are all towns that are run by evil Republicans.

Nationally, there were 3 fewer million jobs in February, or 2% less than when employment peaked in January 2008…

Even though the recession ended almost four years ago, in June of 2009.

"Texas has been a bright spot in the recession. Its housing market wasn’t hit as hard," said Alec Friedhoff, a senior research analyst at Brookings, a Washington think tank. "The oil-and-gas industry has been a great boon for that part of the country."

California also has oil and gas. So do a lot of other states. Even New York. They just refuse to go after it.

Texas has added jobs every month since January 2010, according to the Texas Workforce Commission. On Friday, the agency reported that Texas has added almost 360,000 nonfarm jobs since February 2012 on a seasonally adjusted basis, with gains in hospitality, government and manufacturing jobs, among others. The unemployment rate in Texas in February was 6.4%, significantly below the 7.7% national average…

Austin added more jobs, percentage-wise, than any other metro area, helped by stable employment at the state government and University of Texas as well as high-tech jobs…

But gosh that Governor Perry is a buffoon.

Despite showing strong job growth, a few metro areas could be disproportionately affected in the months ahead by automatic government spending cuts. Washington, and Charleston, in particular, could be hurt by job losses since they’re home to large numbers of military families and contractors. The state of Virginia recently estimated it could lose more than 160,000 jobs as a result of the government and military spending cuts over the next few years…

Sure they will be hurt by the sequester. Any minute now.

This article was posted by Steve Gilbert on Tuesday, April 2nd, 2013. Comments are currently closed.

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