Houston's Job Growth Rate At 3.4% And Climbing

A new analysis by Comerica Bank finds Houston is the fastest-growing major metro area in the U.S. in terms of payroll job creation.

The number of jobs in Greater Houston grew by 3.4% in the twelve months ending in June.  The region has benefited from high global oil prices and the worldwide boom in natural gas exploration.

Comerica chief economist Robert Dye says Houston’s labor market is set to tighten, as job creation runs ahead of population growth.

“With Houston unemployment even now more than a percentage point below the US average, close to 7%, and expected to continue to decline, we could see fairly tight unemployment rates by late 2013 into 2014, in the range of 5% or less.”

Dye says Houston’s workforce will grow faster as housing markets loosen up in other states and more workers can afford to sell their homes. Houston is already one of the top destinations for people moving across country in search of employment.

Houston's job market
graph provided by Comerica Regional Economic Update

 

 

Bio photo of Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...