Californians Might Want to Consider Moving to Texas
Study predicts California will recover slowly from economic recession
By SAJID FAROOQ
Updated 6:57 AM PST, Wed, Jul 29, 2009
Hoping to beat the recession? Unemployed Californians might want to consider moving to Colorado, Idaho, Oregon, Washington or even Texas.
Most of California's neighbors, its arch nemesis (in terms of size, population and general intelligence), and the Badlands are expected to recover faster from these harsh economic times than the Golden State, according to a new forecast from Moody's Economy.com.
Moody says job growth will return to Colorado, Idaho, Oregon, Texas and Washington quicker than the rest of the country. What makes these states so special?
Four of them have strong high-tech industries and Texas has all that oil and energy that everyone is fighting over.
Where is California on the list and what about its mighty tech sector? Moody says it's not strong enough to balance out its struggling housing industry.
The Moody economy gurus evaluate each state's job growth, industrial production, housing starts and house prices to predict when a state will recover from the recession. Texas, for example, was a latecomer in the housing boom, so its recession was not as deep as California's.
The forecast shows the recession hit "373 of the nation's 381 metro areas, and 49 out of 50 states." Gov. Sarah Palin's Alaska was the only member of the union spared.
When will California recover, you ask? Along with 31 states and the District of Columbia, unemployed Californians are not predicted to have much luck finding a job until the third quarter of 2010.
First Published: Jun 2, 2009 5:38 PM PST
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