A. Commodity Prices Rise........Across the world, the demand for energy and materials rises , particularly in emerging markets and, at the same time, the U.S dollar falls driving up commodity prices and fueling big Texas energy industries OIL PRICES RISE 265 %
B. Oil and Gas Boom........The rising energy prices described in A. cause a massive investment in the oil, gas and mining sectors in Texas and a steep growth in energy industry jobs.
GAS, OIL and MINING OUTPUT UP 166 %
C. GOVERNMENT SPENDING INCREASES....Steady and growing profits in the energy industries coupled with a steep rise in federal spending in Texas on military installations and NASA boost state coffers. GOVERNMENT SPENDING INCREASES 76 %
D. PUBLIC SECTOR JOBS GROW..... Private sector jobs actually FALL 0.7 % over the last 4 years in Texas. Over the 2000 - 2010 window, private sector jobs rise 8 % and GOVERNMENT SECTOR JOBS RISE 19 %
E. UNEMPLOYMENT FALLS.........the BEGINS TO RISE........ TEXAS RECEIVES THE THIRD LARGEST LEVEL of FEDERAL STIMULUS MONEY to SLOW THE EARLY RISE in UNEMPLOYMENT
The point of the above is that the entire Texas Job Miracle is a contrived PR program designed to identify Rick Perry with events which would happen regardless of who was in the Statehouse in Austin. It is self generated HUBRIS reminiscent of Huey Long...the KingFish in Louisiana
CraigS
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EXCLUSIVE: Iowa farmers blast Rick Perry’s answer to their questions about ethanol mandate - http://caucuses.desmoinesregister.com/2011/08/27/iowa-farmers-blast-rick-perrys-answer-to-their-questions-about-ethanol-mandate/
"Some Economists estimate a “range” of possible unemployment rates. For example, in 1999, in the United States, the Organisation for Economic Co-operation and Development (OECD) gives an estimate of the “full-employment unemployment rate” of 4 to 6.4%. This is the estimated “structural” unemployment rate, (the unemployment when there is full employment), plus & minus, the standard error of the estimate. (Estimates for other countries are also available from the OECD.)"
http://en.wikipedia.org/wiki/Full_employment
Romney’s state was already considered “full employment” when he came into office (5.8%) even though he reduced it further to 4.5%. It’s an economic fact, that as unemployment decreases, the harder it gets to do so. A variety of factors contribute to unemployment -never- reaching 0%, including people in between jobs, and the margin of error.
47th out of 50th in job creation would be bad in most circumstances, but not when your state is within the range of “full employment” as Massachusetts was under Mitt Romney.
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