Sort of, we can “celebrate” a birthday. 5 years ago, the Great Recession began.
And that takes us to Texas where they can celebrate. Among the large metropolitan areas in the US, Austin (#1), Houston (#2), San Antonio (#4) and Dallas (#7) are in the top 10 for employment numbers that have surpassed their 2007 totals.
Why Texas? The Economist suggests it is because of mortgage regulations that precluded a severe housing crisis, population increases, and of course, energy.
Based on BLS (Bureau of Labor Statistics) data, this Economist chart illustrates the employment divide between Texas and California.
Sources and Resources: My facts are from The Economist and business cycle data from the NBER (National Bureau of Economic Research).