Obamanomics… Helping or hurting Houston?

So we see the jobs reports on the first Friday of each month, and everyone inhales and holds their breath for just a second. If the unemployment rate goes down, we breathe a sigh of relief. If it ticks up, we wonder what happened.

Over the past few months, the economy has started to pick up steam. Have we had a full recovery yet?? No, of course not. Is there still much to be done? Yes, yes yes. But as we’re in the throws of electomania, I thought it was important to see if any of the recent job growth we are having is sustainable, and how it’s affecting Houston. More specifically, have policies of the Obama administration made any difference for our city?

One of the President’s main economic goals (LONG overshadowed by the bloody healthcare fight, the oil spill, and a bunch of other things) was to get Americans actually making things again. Not only would we make more of our own goods, but actually start to sell those goods to other countries. In the 2010 State of the Union, President Obama set a goal to double US exports by 2014. So far as of 2011 U.S. exports have risen by a whopping 34 percent… well ahead of schedule to meet the original goal. China, in particular, has begun to take notice and buy American goods. According to the US-China Business Council, US exports to China have eclipsed the $100 Billion dollar mark, and it is once again our third largest export market. California is the leading state to export to the rapidly developing nation, but Texas comes in at a surprising 3rd place.

So how does this good news translate to jobs in Houston?? We were already one of the nation’s strongest exporters, but under the Obama administration, export activity in our city has continued to grow, and diversify. Take the Port of Houston, for example. A big expansion of the Panama Canal should be complete by 2014. As a result, shipping volume at the Port of Houston is expected to grow between 20 and 35 percent. it certainly was a wound on Houston pride to lose our beloved Continental to the United merger, but IAH’s new role as the lead hub for the world’s largest airline is quickly elevating our cities statue in the air travel world.

On a landmark trip to Brazil, Houston mayor Annise Parker signed major trade and cooperation deals with the cities of Sao Paulo and Rio De Janerio. As the most rapidly developing economy in Western Hemisphere, these deals could be very lucrative for Houston and Texas’s future. Mayor Parker’s initiative in this respect will surely be remembered as a highlight of her administration.

The groundwork for Parker’s recent trade mission was actually laid by President Obama, as he visited the country last year. Though his trip wasn’t quite as “smooth sailing” as the mayor, this action and similar deals with other emerging markets are sound economic maneuvers that will continue to encourage job growth in America. Houston is a significant part of the success of the USA, and under Obama’s Presidency, Houston and Texas will continue to prosper. So the job growth we’re all seeing and feeling?? It’s no bull.

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