A report released by the Brookings Institution this week has named Texas as the leading state in the nation when it comes to job creation.
The study, called the Metro Monitor Report, tracks a number of areas in large metropolitan cities on a quarterly basis.
"Generally, we find that the state of Texas has performed well during the recession, and it's recovered quite well," said Alec Friedhoff, Research Analyst with the Brookings Institute. "Many of it's metropolitan areas have actually recovered to pre-recession employment levels."
The study areas include jobs, unemployment rates, gross domestic product, and house prices.
"We track those indicators from each metro area's trough, or low point during the recession, to the current quarter, and we call that the recovery," said Friedhoff. "We also compare the current quarter to the level prior to entering the recession."
The Institute says there are a number of contributing factors within our state that have led us to be more fortunate than other states the past few years.
"The state's housing market wasn't hit as hard, which is mostly due to its' more conservative lending practices, so the housing bubble wasn't as big of an issues there," said Friedhoff. "And then I think also oil and gas has been a boom to the economy."
The full study can be found at: http://www.brookings.edu/research/interactives/metromonitor#US-recovery-overall-nv
By: Marissa A. Wagner
Wednesday, April 3, 2013
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