Houston Economy at a Glance-June 2010
The Greater Houston Partnership released its June Economic Report with the most notable highlight being that Houston continues to add jobs. The Houston Metropolitan Area added 2,700 jobs in April, according to the Texas Workforce Commission (TWC). Job gains in April reduced the 12-month net loss to 40,900 jobs. As recently as December ’09, Houston’s net 12-month job loss stood at 102,800.
However, can Houston sustain the momentum? Three major questions create big unknowns for future employment growth at least in the short term:
- What impact will the B.P. oil disaster and the moratorium on off-shore drilling have on job growth in the Energy Sector?
- What will be the net result of job losses at NASA-Johnson Space Center from the Obama Administration’s vision for NASA?
- What will be the net result of jobs leaving Houston from the Continental-United Airline Merger?
Additional Highlights from the Report:
- Rig Count up, Gas Prices Flat, Oil Prices Slipping
- Homebuyer Tax Credit Boosts Housing Market
- International Air Traffic Grows, Domestic Flat
- Foreign Trade Improving
- Houston Maintains Low Cost of Living