Texas Economy V April 21, 2016. The Texas Miracle Governor Perry based his presidential campaigns on the Texas Miracle, that is, the substantial job growth.

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Presentation transcript:

Texas Economy V April 21, 2016

The Texas Miracle Governor Perry based his presidential campaigns on the Texas Miracle, that is, the substantial job growth that Texas experienced during his time as governor.

Is the Texas Miracle a Mirage? Not everyone agrees that the Texas Miracle is so miraculous, at least not for all Texans.

Twenty-First Century Texas

INCOME DISTRIBUTION

Income Distribution Texas has the largest percentage of its population falling either below the poverty line or making more than $200,000 a year, relative to the other states. Just over 21% of the state’s population falls into one of these two camps, although most fall into the former group.

Income Inequality by County Gini index: 0 = everyone has the same income 1.0 = one person has all the money Where is income inequality greater? South and Southwest

So You Want to be in the 1 %?

WAGES

Minimum Wage Workers Texas has more minimum wage workers than any other state.

Poor Education = Low Wage Texas is a low-wage state because its people are poorly educated. More than 10 percent of Texans age 25 and older have less than a ninth- grade education compared with 6 percent nationwide.

Education Texas has the lowest high school graduation rate in the country, 80.8 percent, even worse than Mississippi. Wyoming and Minnesota have the highest rates. What’s wrong with the headline?

POVERTY

The poverty rate in Texas is 16.4 percent, well above the national rate of 12.6 percent. Texas ranks 37 th among the states. Louisiana and Mississippi have the highest rates. New Hampshire, Minnesota, and Connecticut have the lowest rates of poverty.

In what regions of Texas is poverty greater? Valley, East Texas, Far West Texas

Poverty in Houston

Incidence of Poverty Poverty in Texas, as it is in the United States as a whole, is concentrated among racial minorities, single-parent families headed by women, and the very young. About a fourth of Texas children live in poor families.

Explain these data.

Quiz What is the minimum wage in Texas? A)$6.50 an hour B)$7.25 an hour C)$8.00 an hour D)$9.00 an hour The answer is B.

What You Have Learned What is the Texas miracle? Why do some question whether the Texas economy is really so miraculous? How does Texas compare with other states in terms of income inequality, the number of minimum wage workers, and poverty?