Houston Economic Update – December 2012

by CoyDavidson on December 4, 2012

Houston CBD IS

Houston is One of Three Major Metros to Recoup All Jobs Lost in the Recession

December marks the fifth anniversary of the Great Recession. The National Bureau of Economic Research (NBER), the organization that dates U.S. business cycles, places the start in December ’07 and the end in June ’09. As reported in earlier issues of Glance, Houston fared better than most metros, entering the recession late (September’08), leaving early (January ’10), and losing a smaller share of jobs (4.5 percent) compared to others. Houston is also one of only three major metros that have recouped all jobs lost in the recession, with Dallas and Washington DC being the other two. Several metros are more than halfway there (e.g., New York, Boston, and Seattle), but many continue to struggle (e.g., Riverside, Detroit, and Miami).

Houston Economy at a Glance December 2012

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