Key Economic Indicator – Employment – Greater Houston Partnership

http://www.houston.org/pdf/research/narratives/Employment/Employment_Update.pdf

November 17, 2017
The Houston-The Woodlands-Sugar Land metro area created 43,200 jobs in October,
according to the Texas Workforce Commission. That’s the largest single-month job gain on record. The record-setting growth reflects the aftereffects of Hurricane Harvey plus an expected post-summer improvement, not a surge in economic activity.

 

July cut 19,500 jobs, primarily in local school districts as educators roll off school payrolls in the summer months. August’s and September’s losses, 12,100 and 11,200 respectively, occurred primarily in food services and drinking places, retail and construction, as Houstonians stayed home during Hurricane Harvey and construction workers stayed off the job site. Hurricane Harvey has clouded what’s truly happening with local employment. Through June, the region had created 25,200 jobs. Through October, the region has created only 25,600 jobs. Either job growth has slowed considerably or TWC has failed to capture the
jobs that are being created.

Note: The Partnership will discuss Harvey’s long-term impact on Houston’s economy, the
employment outlook for ’18, and the future of energy, construction, and innovation at its
Houston Region Economic Outlook, scheduled for December 8 at the Royal Sonesta.
Additional details can be found at the Partnership’s website or by clicking here.

 

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