As Shale Fades in Texas, Jobs Suffer

Posted December 14, 2015 at 8:34pm

Bloomberg reports that “the ‘Texas Miracle’ could become more like a mirage.”  

“For years, politicians in the second-largest state bragged low taxes and loose regulations kept employment high while the rest of the country was mired in economic doldrums following the 2008 crash. Turns out it was just its deep pockets of oil and gas.”  

“Unemployment may surpass the national rate in the next year for the first time since 2006, according to Prestige Economics, JPMorgan Chase and ING Bank.”