Free Markets, Free People
Top 10 cities with the most pink slips and the 5 worst states to do business in
What do they have in common? Well, you tell me (but my guess is onerous taxation, over-regulation and an anti-business climate). Here are the cities that have lost the most jobs recently according to the Daily Mail?
- Los Angeles, California, 17,393 workers
- New York, New York, 14,312
- Chicago, Illinois, 7,835
- San Francisco, California, 5,117
- Riverside, California, 4,852
- San Diego, California, 4,382
- Philadelphia, Pennsylvania, 2,747
- Seattle, Washington, 2,601
- Sacramento, California, 2,467
- Pittsburgh, Pennsylvania, 2,205
OK, you say, LA has a lot more jobs to lose than say, Montgomery AL. True and understood. But, there’s more. Take a look at the states in which you find the job losses. Now peruse the list of the “best/worst states to do business in”.
47 New Jersey
49 New York
All deep blue states. If you’re wondering, PA comes in at 39th just ahead of OH, WV, HI, CT and MA and behind MS. Yeah, that’s right, MS. Everyone’s 50th state in most every other comparison. WA was 34th.
Contrast that with the top 5 states – TX, NC, FL, TN and GA. All red, all right to work states, all southern states. Draw your own conclusions. By the way, the ratings of the “best/worst states” came from a group of people who ought to know and be able to make such a determination as it relates to business. The rankings are the product of surveying 550 CEOs.
And, as they indicate, it isn’t rocket science needed to attract and keep businesses in a state:
Business leaders graded the states on a variety of categories grouped under taxation and regulation, workforce quality and living environment. “Do not overtax business,” offered one CEO. “Make sure your tax scheme does not drive business to another state. Have a regulatory environment and regulators that encourage good business—not one that punishes businesses for minor infractions. Good employment laws help too. Let companies decide what benefits and terms will attract and keep the quality of employee they need. Rules that make it hard, if not impossible, to separate from a non-productive employee make companies fearful to hire or locate in a state.”
That, in my estimation, is the primary difference between Texas and California, and why Texas is booming and California is drowning.
Food for thought.