Texas Job Levels Should Recover First: Report
Economic rainbows
The people at IHS Global Insight looked into their crystal ball recently, and the tint was relatively rosy, particularly for Texas.
The people at IHS Global Insight looked into their crystal ball recently, and the tint was relatively rosy -- particularly for Texas.
The market and economics experts ranked Texas the most likely to recover from the recession first.
They predict that Austin and San Antonio will return to pre-recession job levels sometime next year and place Dallas-Fort Worth and Houston among the top eight cities that should recover by 2011.
The firm said the recovery will begin slowly, with jobs appearing incrementally, but the rate should pick up all over eventually.
“Solid gains will not return for the majority of the country until 2011,” the report said.
The cities waiting the longest to return to the pre-recession days include Cleveland; Detroit; Hartford, Conn.; Milwaukee, Wis., and Providence, R.I., who shouldn’t bounce back until 2015, according to the report.
It will be hard for conservatives or liberals to immediately take credit -- Texas has been under Gov. Rick Perry for years, yet the decline in national GDP slowed from -5.9 percent in March to -0.9 percent in August, and is expected to turn positive in September ... under President Barack Obama.
Holly LaFon has written for various local publications including D Magazine and Examiner.
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Posted Wednesday, Sep 16, 2009 - 9:36 PM CST
