Can you see the miracle?
h/t Democracy In America, The Economist
Much is being made of the "Texas Miracle" - an economy that weathered the recession relatively well.
Judging from the chart below, it's hard to argue that anything of the sort actually happened. The chart compares the unemployment rates of Texas, New York, Florida and Illinois.
|(click image to enlarge)|
Look at the numbers from a different perspective: the number of unemployed in each state:
So, where's the miracle?