Seven years after the economic crisis of 2008, the United States has finally brought the unemployment rate back under 6 percent. The U.S. is now posting solid monthly job gains, and the economy is on much more solid footing than it was just a few years ago, according to the experts at TexasLending.com.
Although the economy is in recovery, it hasn’t made finding a job easier for millions of unemployed Americans. But if you’re thinking of relocating to find employment, the job market in Texas is nearly as hot as the weather. Many corporations are relocating to Texas, bringing new jobs with them. With no corporate or state income tax, Texas is able to attract big companies and create a strong work force, says TexasLending.com. There are 118 of the largest companies in the United States based in Texas, including Dell, AT&T and Exxon Mobil.
TexasLending.com says Texas can achieve even greater job growth by controlling state spending, keeping regulations reasonable and taxes low.
According to the team at TexasLending.com, not only have thousands of jobs been added in oil and gas drilling, but the professional, business, education, health, and construction services have expanded as well, adding a total of 26,700 positions.
The Lone Star State ended 2014 with 457,900 new jobs for the year and tacked on the fifth consecutive month of record-breaking annual job growth, showing an unemployment rate of 4.6% – the lowest rate since May 2008.
Accordingly, says TexasLending.com, with many forecasters expecting improvement in U.S. economic activity, Texas should benefit as demand for its products and services increases. In 2015, Texas will likely continue growing at a moderate, above-average pace and will outpace most U.S. states. The state’s steady job growth is great news for a state where everything is already bigger, says TexasLending.com.