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California and Texas job trends show divergent recoveries
California added 365,100 non agricultural jobs July 2011 to July 2012 while Texas gained 113,300. California’s unemployment fell to 10.7 percent versus the U.S. 8.3 and Texas 7.2. Since 2002 California remains far from its pre downturn peak, whereas Texas added about 1.4 million jobs. Both face fiscal challenges and need investments in education and infrastructure. M. Ravest of The Perryman Group provides analysis.
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