The Texas Job Recession Is Now Literally "Off The Chart": Now Leads the Nation in Layoffs

Zero Hedge ^ | 05/07/2015 | Tyler Durden

[sickoflibs]

Oil prices of course.

[Vigilanteman]

Oil prices are moving back up and so will the Texas economy. It is natural that you will create a lot of layoffs when you've been number one in the nation for so many years in creating new jobs.

The other metric is that I would guess that not many Texans are leaving the workforce permanently either.

The common thing to do in ObaMao's America, especially if you are fifty plus is to exhaust all 99 weeks of unemployment benefits and then discover a disability which will replace it with disability income by the time the 8.25 years of unemployment is exhausted. People who have hope of finding new employment in places like Texas won't do that.

[SMARTY]

How did they get their number? Are they counting newly arrived Illegals who haven’t scored work yet?

Are the Illegals now part of all the poling that we will see?

Poling numbers will forever be f^%&^d up now, if the poling entities include Illegals, AS IF they are part of the equation

[The Sons of Liberty]

I haven't trusted any employment / unemployment numbers from the Feds in a long time, but I don't doubt the 0bama regime's efforts to prevent energy independence and falling oil prices may have an effect. Therefore, I'm having trouble deciding whether these figures are truthful, or whether it is another part of 0bama's war against Texas.

Do you think they are accurate?

[re_nortex]

Oil prices of course.

This was all orchestrated by hussein who does the bidding of his fellow mooselimbs in the Middle East. The White Mosque has a clear goal of destroying Texas, as evidenced by their declaration of Texas as hostile territory.

[Codeflier]

99 weeks is not 8.25 years it is just shy of 2 years. But your overall point is still very valid.

[OttawaFreeper]

Let me guess, apologists for California and Governor Moonbeam will use a statistic like this as a weapon of mass distortion.

[Vigilanteman]

I stand corrected. Yes, it is 99 weeks, not 99 months.

Do you remember how quickly people suddenly found jobs under Reagan when his administration curtailed the time on benefits? All the liberal pundits predicted people would starve or turn to crime by his heartless policies, but it was like sha-zam!

[MrEdd]

Dunno.
A bunch of the layoffs around here have been food processing plants.

[catnipman]

Texas always gets the snot knocked out of them when an oil-price collapse follows an oil boom. I would imagine the same thing is happening in North Dakota too.

[SeekAndFind]

RE: Let me guess, apologists for California and Governor Moonbeam will use a statistic like this as a weapon of mass distortion.

My personal indicator is still the UHAUL Index.

How many people from California are moving to Texas and vice versa?

[Grams A]

Texas always gets the snot knocked out of them when an oil-price collapse follows an oil boom.”

The major difference I see this time around is that we have millions of illegals here now which turns into way many more mouths to feed and provide medical services to. A favorite ploy of taxing agencies is to increase the value of an individual’s home since they can’t raise the rate so property taxes took a huge jump this year and the value of homes is being assessed at unrealistically high rates.

[martinidon]

Bingo! You are spot on! Wait till he lifts sanctions on Iran and they flood the market with oil. This not only hurts Texas, but kills Keystone pipeline.

[BenLurkin]

[BenLurkin]

[BeadCounter]

And they were the main contributor to the growth of jobs, wow, I was living in Midland around ‘90 and it was deader than a doornail it seemed to me.

[BeadCounter]

And what happens in North Dakota? I heard they were building $800 million dollars in schools and then this happens. I don’t think it is as bad there but they must be suffering some too.

[TWhiteBear]

Thanks for the update.
The big guys knew this was coming 4 years ago and planned accordingly. Some of the sharpies hyped up rube investors and those folks will take a bath.
Bottom line, in about a year check out Texas for real estate investment, residential or business. The price should be right.
TWB

[wyowolf]

According to the chart not much, they are nearly at the bottom of the list.