Here is your update for Houston:

Our unemployment rate is at 8.5% in Houston. Texas is at 8.1% and the Nation is at about 10.2% for October.  I know this does not sound good, but let me look for the positive here. I had the opportunity this week to attend the Houston Economic Symposium. The moderator every year is Dr. Barton Smith, University of Houston (Go Coogs!). He was able to shed a lot of light on the economic condition in Houston and I wanted to share that with you.

The Bad:

• If we add 250,000 jobs per month it would take us 2.5 years to get back to where we were at the peak of our national economy
• We have lost over 7,000,000 jobs in the U.S. since December of 2007 (the official start of the recession)

The Good:

• We have cut the trade deficit in half (thanks to a weaker dollar our products are more attractive again)
• Retail sales are stabilizing
• New home sales will double in the next 5 to 6 years (great indicator of future jobs!!!)
• Job losses in Houston are slowing and we are either at or very close to the bottom

The VERY GOOD:

• Traditionally Houston is the last to enter a recession and the last to get out, BUT this time around we are the last to get in and will come out right around the same time as the National Economy (This is huge, since we generally lag about a year).
• It looks like the worst is over from Houston (Purchasing Managers Index is right around 50)
• The ONLY place we have to go it up. We will show a slight improvement in job growth in 2010. BUT – 2012, 2013 & 2014 will be great years for job change! There will be more jobs and not enough talent to fill them.

EVEN BETTER (Our CFS National Stats)

• We have seen sales growth for the past 5 consecutive months
• Our clients are calling us with needs again!!!!!!

So, whether you are looking or not, things are getting better. I think 2010 will be a much better year for all of us!!!!

 Current Openings:

• Non Profit Audit Manager and Senior Manager for Public Accounting Firm
• SEC Accountant (2) North and Galleria
• Payroll Accountant (West Houston)
• Fixed Asset Accountant (The Woodlands)
• Area Credit Manager (Downtown)
• Senior Financial Analyst (West)
• Credit Analyst (Jr. and Sr.) – Downtown
• Senior Accountant (Southeast Houston)
• Non Profit Audit Manager and Senior Manager
• Internal Audit – less than 10% travel – 40 to 45 hour work week!!!!!
• Tax Accountant Senior (5) – Public Accounting – Galleria
• Federal & State Tax Manager (West Houston and Downtown)
• Forensic Accounting Senior Manager, Manager & Supervisor
• Controller (Conroe) – No more than 4 years total experience, prefer Auditor out of public accounting

Nationwide Searches:

• Director of Excise Tax – Florida to 125K
• Gift and Estate Tax Senior Manager – 150 to 200K, San Antonio, TX
• Manager of Derivatives Accounting, Miami, Florida

dcd@fittsroberts.com

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