Super Bowl pep talk for small businesses
The National Football League and partner SMU gave small businesses a pep talk this morning.
Even though the recession has passed, economist Bernard Weinstein of the SMU Cox School of Business noted that, still, "we're certainly in a jobs recession," with economic growth having gone sideways for several months.
But "things are so much better here than they are in other parts of the country," Weinstein said in remarks at the Cox School during a pre-Super Bowl workshop the NFL hosted for small businesses. "Barring some external shot, I think 2011 will be better than 2010 and a lot better than 2009."
Worrisome, he said, is that median household income in most North Texas counties fell between 2000 and the latter half of the decade. In Tarrant County, for example, it fell to $54,467 from $59,446. Income rose only in Parker and Wise counties.
Weinstein attributed that to lower-income migrants moving into the state, as well as to the downturn.
He also said Texas' economy is more closely tied to the fortunes of the national economy these days, comapred to years past.
"We march to the same drumbeat as the national economy, so it's important we have a strong national economy," he said.
- Scott Nishimura, jobs and workplace reporter, Star-Telegram