Categories
Uncategorized

Valley Leads Job Growth for Texas, USA, and Mexico

Dynamic Growth in the Rio Grande Valley
By José Joaquín López
Dallas Fed

Texas Manufacturing employmentIts proximity to Mexico and fast-growing, binational job market are major factors in the Rio Grande Valley’s economy. They’re a large part of the reason employment has increased at a faster, steadier pace in the Valley than in the United States, Mexico or Texas as a whole. Despite rapid job creation, the Valley remains relatively poor. The McAllen–Edinburg–Mission metropolitan statistical area ranks last among the nation’s 361 MSAs, with a per capita income of $15,184 a year, less than half the national average of $31,472. The Brownsville–Harlingen MSA comes in next to last at $16,308.

The combination of rapid job growth and low income is unusual. In a study covering 1967 to 1997, Dallas Fed economist Keith Phillips found weak employment gains in other states’ low-income counties—annual averages of 2 percent in Kentucky, 0.4 percent in West Virginia and 0.3 percent in Mississippi. Valley employment, by contrast, rose 3.4 percent a year over the three decades.

Southwest Economy

Issue 2, March/April 2006
Federal Reserve Bank of Dallas

http://www.dallasfed.org/research/swe/2006/swe0602c.html

By mopress

Writer, Editor, Social Democrat

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s