While the rest of the country struggles with employment, the texas economy, and houston economy, continue to outperform the rest of the country. Texas has one of the two or three lowest unemployment rates in the country. The unemployment rate in Texas has consistently been at, or below, half that of the rest of the country.
The lack of a state income tax certainly helps, as do the business friendly policies of the State of Texas Government. There’s a lesson for Washington, in the Texas economy, and that is simply:
improve the business climate on the national level, to reduce the national unemployment rate.
Less regulation, and simpler taxes would be an excellent start.
When you look at the states with the lowest unemployment rates, they are the states with the lowest levels of taxation and the least government regulation. States like Texas consistenly have lower unemployment that the national average. While high tax states like Californioa and New York, have unemployment rates higher than the national average.
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