January 2, 2019
In recent months, headlines have focused on company shifts from California to Texas. Analysts from the Federal Reserve Bank of Dallas point out, however, that this isn’t news. In fact, the Golden State exported more than 51,000 jobs to the Lone Star State between 2000-2013. Texas, in the meantime, sent 18,000 jobs to California, meaning a total net migration of 33,000.
Dallas Fed analysts point out, however, that job relocations from California (and New York) represents only a small part of job improvements. “Other elements include job creation from the girth of new firms and growth among existing establishments …” the analysts wrote. The Texas economy generated approximately 1.3 million jobs and destroyed 1.3 million jobs a year between 2000-2013, for a net job creation per year of about 180,000 jobs, the Dallas Fed added.
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