Houston Economic Update – May 2012
The Houston-Sugar Land-Baytown Metropolitan Statistical Area now ranks as the 5th largest metro in the United States, according to data recently released by the U.S. Census Bureau. Houston overtook the formerly 5th ranked Philadelphia metro area, which only added 27,071 residents during the same time frame.
Houston continues to enjoy the fastest pace of job growth among the nation’s major metro areas, the U.S. Bureau of Labor Statistics reported recently. For the 12 months ending March ’12, Houston’s added 82,300 jobs, a 3.2 percent over the year increase. The addition of 82,300 Houston jobs was the second-largest number added behind that of New York, a metro area with three times Houston’s population, which added 112,500 jobs. Houston’s annualized growth is more than double the national rate. Nationally, total nonfarm employment rose 1.5 percent from March 2011. Houston is one of only two major metro areas, the other being Washington, D.C., that has returned to pre-recession employment levels.