Houston’s employment sector is large and diverse, with over 3.0M non-farm payroll jobs reported in November 2017. In 2017, Houston only added an estimated 29,700 jobs, which is one-half of the historical average annual job growth. Looking forward, Houston’s short-term job market is expected to see lower than average growth. The Greater Houston Partnership has forecasted 45,500 jobs for 2018.
According to the U.S. Bureau of Labor Statistics, Houston’s industry sectors that posted annual losses of jobs between November 2016 and November 2017 include construction, information and wholesale trade. Industry sectors that registered annual job gains during the same time period include mining and logging, manufacturing, nance and insurance, real estate and rental leasing, professional business services, educational services, health care and social assistance, accommodation and food services, other services and government. Job growth in mining and logging is a good indicator that Houston energy industry companies may be putting the worst of the energy downturn behind them.
|Houston ranked 1st on Money’s “Best City For
College Graduates” (May 2017)
A Top 10 Metro in The Kauffman Index 2017
“Startup Activity” Metropolitan Area and
This Houston Employment Sector overview is part of the annual 2018 Houston Economic Outlook. For the full report click here.
Sections covered in the full report include:
Population Growth | Employment Sector | Business Climate | Global Energy Capital | Petrochemical & Plastics Industry | Port Houston | NASA/Johnson Space Center | Mobility Infrastructure | Airport System | Texas Medical Center | Biosciences & Biotechnology