Report: Of the three most populous states in the United States, Florida is the best and California is the worst.National news – Pennsylvania News Today

In 2020, more companies filed for bankruptcy in Texas than in Florida or California, and California recorded the first population decline in history, maintaining the highest or nearly highest unemployment rate nationwide.

From February to April 2020, when the state government closed, non-farm employment fell by 15.3%. California, 13.9% Florida, And 11.1% Texas, According to the Federal Reserve economy data Edited by the Research Division of the Federal Reserve Bank of St. Louis.

California, the most populous state in the United States, is home to approximately 39.5 million people. Texas, the second largest, has about 29 million inhabitants. Florida is the third with about 21.5 million people.

From April 2020 to May 2021, non-agricultural employment increased the most in Florida, increasing 10.4%, followed by California at 9.4% and Texas at 9%.

According to the US Department of Labor Statistics, labor productivity in the private non-farm sector rose in 45 states and the District of Columbia before the states were closed. This was the highest number of states reporting positive productivity growth since 2010.

In 2020, California led the country in contributing to its growth. Labor productivity growth of 6.1% contributed to almost a quarter of the country’s 3.6% growth. After the 15-month blockade, it quickly reversed and California still maintains the highest or near-highest unemployment rate in the country.

However, before the state shuts down. data From 2015 to 2020, Florida’s economic outlook exceeded Texas, according to a survey by the American Legislative Exchange Council.In that rich / poor state 2015 report, Florida was 15th, Texas was 11th, and California was 44th.Along 2021, Florida has changed to 2nd place, Texas to 9th place, and California to 45th place. Texas’s economic outlook has declined due to factors such as property tax, excise tax and debt repayment in tax revenue.

Due to the tax-friendly climate, businesses continue to move to Texas, but the business environment in Texas is actually less friendly than the business environment in Florida. report Show by the Tax Foundation. From 2015 to 2021, Florida’s business tax tenderness ranking rose from 5th to 4th, and Texas increased from 14th to 11th, according to analyzed Tax Foundation data.

Business friendship in California has deteriorated, moving to 49th place in 2020. Residents and businesses cite high living costs and high tax environments for relocation. According to the latest data analyzed by Truth in Accounting, California taxpayers were burdened with about $ 21,100. That is, each taxpayer must pay this amount to repay the state debt.

If you’re considering moving from California, Florida will be less taxable than Texas. Accounting truth Note. From 2015 to 2019, Texas taxpayers increased the amount they had to pay to repay their state debt from $ 7,700 to $ 11,300, ten times more than in Florida. Florida taxpayers are currently borrowing $ 1,600 to repay their state debt.

Texas’s business tax environment reportedly improved between 2015 and 2020, but the state’s closure had a major impact on businesses, resulting in Texas having the most business bankruptcy filings in 2020. Leaded California and Florida. data From the US Court Secretariat.

In 2015, approximately 2,000 companies filed for bankruptcy in Florida and Texas, compared to 3,325 in California.

However, by 2020, there were few bankruptcies filed in California and Florida, while about 3,500 bankruptcies were filed in Texas. California filings were reduced to 2,431 and Florida filings were reduced to 1,613.