Everything's Bigger in Texas (Even Employment Increases)

By Elizabeth Chamberland, Campus Representative, Indiana University

A recent Wall-Street Journal article examines the unemployment rates for the month of September that were recently released. While California and New York experienced the highest number of job losses, 63,500 and 37,600 respectively, Texas experiences a gain of 4,000 jobs. Noting that Texas has become a popular state for new business investments, this does not come as a surprise. Pair this with the affordable housing in Texas and the state becomes an attractive option.

The large losses in New York are easily explained by further examination of New York’s taxation and housing market. New York ranks 50^th on the State Business Tax Climate Index Rankings which means the state has the worst taxation environment for businesses. Looking at housing, CNN Money reports that New York City ranks number one as the metropolitan area with the least affordable housing market. Three of the next four spots are captured by cities in California which supports the state’s reputation for an extremely high cost of living.

Based on these figures, there seems to be a significant shift in the best locations for job seekers. New York and California, with large metropolitan areas and large economies, are now areas that pair risky job prospects with high costs of living. On the other hand, Texas seems to be a promising choice.