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Reuters/Jayne Kamin-Oncea USA TODAY Sports
Unlike in the NBA playoffs, San Antonio is a big winner in population growth.
DON'T MESS WITH TEXAS

Texas’ cities are eating America

If you’re looking for US growth, look to the Lone Star state.

Despite its cinematic reputation as a land of wide-open spaces—which it is—Texas’ cities are some of the fastest-growing large metropolitan areas in recent years, according to just released annual population data from the US Census.

Where is the growth coming from? Well, jobs. As the Economist recently noted, between 2009 and 2014, 20% of the jobs created in the US were created in Texas. Of course, it remains to be seen whether the sharp decline in oil prices over the last year will jolt the growth train off the rails.

It happened in the mid-1980s, when a sharp decline in oil prices sent the economy into a tailspin and revealed the state’s banking sector was dangerously over its skis. Texans have long argued that this time is different and the state is far less reliant on extractive industries. Maybe, but a sharp decline in jobs in March—25,000—suggests that contention could be put to the test over the coming months.