Tuesday, August 16, 2011

Better Than No Job

Posted by Teresa at 12:22 PM
Paul Krugman of The New York Times recently dismissed the
job growth in Texas because they are low paying jobs.
Kevin Williamson of National Review Online does an excellent
job of responding to Krugman. Snippet:
How different? Let’s look at the data: In spite of the fact that
Texas did not have a housing crash like the rest of the country,
housing remains quite inexpensive there. The typical
owner-occupied home in Brooklyn costs well over a
half-million dollars. In Suffolk County it’s nearly $400,000.
In Houston? A whopping $130,100. Put another way: In
Houston, the median household income is 39 percent of
the cost of a typical house. In Brooklyn, the median
household income is 8 percent of the cost of the median home,
and in Boston it’s only 14 percent. When it comes to
homeownership, $1 in earnings in Houston is worth a lot more
than $1 in Brooklyn or Boston. But even that doesn’t really
tell the story, because the typical house in Houston doesn’t
look much like the typical house in Brooklyn: Some 64 percent
of the homes in Houston are single-family units, i.e., houses. In
Brooklyn, 85 percent are multi-family units, i.e. apartments and
condos.
Yes, Texas jobs do not pay what other states might pay but
our cost of living is low. Also, I would prefer to have a job than
have no job. A job is a job. Even a sucky, low paying job can
afford you opportunities to move up the economic ladder
if you choose to take advantage of them. So many employers
that I know locally help out with tuition if you want to go
back to school. This might shock some liberals: But some
businesses actually want an educated workforce so they
can promote within the company.
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