Friday, October 26, 2018

Greg Abbott and GOP Controlled Texas Legislature fails Texans economically

By Faith Chatham - Oct. 26, 2018
As of June 2018, Texas ranks 21st highest (out of 51) in UNEMPLOYMENT. Under Abbott and the GOP controlled Texas Legislature, the annual growth in GDP (5 year increase) has not trickled down to the middle class. Growth in GDP can mask the overall wealth of the average Texan because GDP can reflect wealth which flows through Texas companies to out-of-state or international stock holders. EMPLOYMENT FIGURES reflects wealth actually in the accounts of residents which is available for housing, food, clothing, education, recreation. These are the expenditures which fuel the local economy. Under Abbott, higher percentage of Texans are unemployed than in 30 of the nation's other states. Since Texas is one of the states with the greatest population, 4% of Texans is a much greater number of unemployed people than in any of the other states with higher rates of unemployment.
BOTTOM LINE: Under Greg Abbott's watch, more people in Texas are unemployed than in most other places in the United States. The growth in wealth in Texas is channeled into the bank accounts of a relatively few people instead of being spread out throughout the population. Despite a 1.9% increase in job creation, the majority of new jobs are either not full-time or at pay rates high enough to rank as "living wage pay rates".

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