Oil and Gas and the Economy

Texas’ biggest industry, oil and gas, is growing at a phenomenal pace, and the entire state economy is benefiting. With multipliers among the highest of any type of business, when the energy sector is surging as it is now, it’s generating a high level of other business activity for companies across the economy. In addition, oil and gas jobs generally pay well and there are […]

Jobs Aplenty

As the numbers for 2018 begin to trickle in, it is becoming increasingly obvious that Texas had a banner year in terms of job creation. Overall, the state economy added 391,800 jobs through the 12 months ending in December 2018. That amounts to well over 1,000 jobs each day. The mining and logging sector (which is almost entirely oil and gas in our neck of […]

Tax Cuts One Year Later

In 2018, provisions of the 2017 Tax Cut and Jobs Act went into effect. The Act simplified some aspects of the federal tax code and restructured tax rates with the purported goal of enhancing economic growth. In particular, the Act reduced the US corporate tax rate from 35% to 21%. For US companies, which have historically faced some of the highest levies of any developed […]

Data

The partial shutdown of the federal government continues. (While it would be good news indeed if it’s reopened by the time you’re reading this, as I am writing both sides are digging in their heels and hardly listening to each other, so it may well persist.) Headlines are replete with the fallout from some 800,000 federal employees either staying home or being forced to work […]

Brexit Limbo

The recent Parliamentary vote on a proposed Brexit deal resulted in a decisive “no” to Prime Minister Theresa May’s path for the United Kingdom divorcing the European Union (EU). The vote was among the most lopsided in recent history, illustrating the wide divisions in opinions about the best way for Britain to leave the EU (or not). The whole idea of a “Brexit” was flawed […]

Beyond Talking

Trade talks between the US and China have started up again, the first major movement towards reconciliation since the December decision to delay further tariff increases until March. As I am writing, representatives from both nations were reportedly narrowing some, but not all, of the differences. While negotiations are moving forward and hopefully something can be achieved before the artificial deadline, it is likely that […]

Shutdown

As 2019 begins, the federal government remains partially shut down. Proposals are still surfacing and meetings are still being arranged, but as I write this it looks like it could go on for a while (by the time this is printed, it could all be over). One of the central points of disagreement is funding for the border wall, which is a highly controversial sticking […]

The Cost of Cancer and the Benefits of the Cancer Prevention and Research Institute of Texas

The Cancer Prevention and Research Institute of Texas (CPRIT) has been working to reduce the tragically high human and financial cost of cancer since 2010. Texas voters approved a constitutional amendment in 2007 to establish CPRIT, authorizing the State to issue $3 billion in bonds to fund groundbreaking cancer research and prevention programs and services over a ten-year period. This effort has supported world-renowned scholars […]

Long-Term Economic Forecast for Texas Metropolitan Areas

About 72.4% of Texans live in the state’s biggest metropolitan areas, a proportion which has been rising over time. Though smaller population centers and rural areas make a significant contribution (particularly those in the oil-rich regions of the Permian Basin, South, and East Texas), The Perryman Group’s long-term forecast indicates that, through 2045, over 80% of new jobs will be in one of the seven […]

The Long-Term Outlook for the Texas Economy

The Texas economy has been among the fastest growing in the nation for a number of years. With more major corporate relocations and expansions than any other state, Texas is expected to continue to outperform most areas. Here is a look at key patterns affecting performance and a summary of my latest long-term forecast. The United States is currently in the process of negotiating or […]