Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Good News for Houston: “The Worst is Over”
Connect is coming to Austin! Learn more here.
The Greater Houston Partnership’s “Economy at a Glance” report for February 2017 introduced some positive news. Namely, that “the revised employment data shows that the worst is over,” the report said. “Other indicators support that point.”
First, the employment news. Metro Houston ended up creating 18,700 jobs in 2016, according to benchmark revisions issued in March 2017 by the Texas Workforce Commission. Though this is far from the 100,000-plus jobs created a handful of years ago, it’s a lot higher than the TWC’s initial estimate of 14,800 jobs.
Other indicators introduced by GHP include
- Record home sales set for February
- An increase of the North American rig count, which has risen 90% over the past 10 months
- A Houston Purchasing Managers Index of 54.2 in February, indicating expansion for the fifth consecutive month
The GHP is forecasting 29,700 jobs for Houston in 2017.
Subscribe to Connect Daily Texas
For comments, questions or concerns, please contact Amy Sorter
For advertising information, please contact Joni Margotta
- ◦Economy
