April 2018 Newsletter for Accounting & Finance Professionals from Diane Delgado LeMaire @ CFS

Industry News and Updates:

Based on the activity we’ve had this past quarter, CFS is in for a very busy 2018 both locally and nationally. I am excited to report that the Houston economy is on the upswing! We have been very busy assisting hiring managers as they add additional headcount, a large number of which were replacements of positions that were previously eliminated in the last few years. Also, several of our clients have been supplementing their additional workload with temporary workers due to increased business. All of this is great news for our local economy and job market.

Here are some highlights from the Greater Houston Partnership and The Perryman Group:

  • Oilfield services added 3,500 jobs in the past 12 months
  • Manufacturing added 4,800 workers – the driving force behind this has been linked to drilling activity
  • The construction sector added 3,700 workers – majority of these are tied to Harvey
  • Unfortunately, some oil & gas firms are still restructuring – approximately 2,200 workers were laid off in the past 12 months
  • Rig counts have increased by more than 100 since this time last year
  • Capital Investment is UP
  • Texas population is expected to grow by more than 2M in the next 5 years – these new Texans will need housing, healthcare, retail services, etc.
  • Last but not least: The Texas economy is projected to outpace the nation over the next 5 years! 

CFS Resource for Hiring Managers: Interview Guide

Local Statistics:

  • National Unemployment Rate: 4.4 (last year 4.9)
  • Houston Unemployment Rate: 4.7 (last year 5.7)
  • Labor Participation Rate: 62.9% (last year 63%)
    • January 2007 66.4% Highest / September 2015 62.3% Lowest
  • Manufacturing Index: 55.6 (last year 5.2
  • Oil Rig Count: 991 (last year 789)
  • Price of Oil: $65.59 (last year $53.36)


Interesting Articles:

 

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