Houston Economic Outlook

by CoyDavidson on October 7, 2013

Houston CBD IS

Houston ranked among the top-performing U.S. metros in 2012 and continues to lead the nation in population and job growth in 2013. Although 2009 was undeniably challenging with local job losses totaling 95,200, this was the first year Houston suffered job losses following a stellar period of expansion and job growth from 2005 thru 2008. As the nation’s economy continues to grow at a snail’s pace, Houston is once again making headlines as having one of the healthiest economies in the U.S. In May, 2013, the Business Insider published an article listing 17 facts that make Houston the best city in America. It’s no surprise that the first fact listed was Houston’s job growth, citing a 231 percent recovery of jobs since the recession in 2009. As expected, a large majority of the jobs Houston gained are related to the energy sector. Monster.com ranked Houston first in “The Highest Demand for Engineering Jobs in 2013”, and Payscale.com ranked Houston in first place for “Best Cities for Your Career in 2013”. Houston was also the top ranked city by The Bureau of Economic Analysis, for “Fastest Real GDP Growth Among Large MSA’s”.

Houston’s strategic location and core strengths, including an expanding energy sector, strong import/export trade activity, cutting-edge medical advancements, and technological breakthroughs across industries, uniquely position it to play a vital role in meeting national and global market demands. At a time of unprecedented geopolitical demographic shifts affecting markets worldwide, Houston stands as a leader among U.S. metros.

View the full report here.

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