February 7, 2017
Many economic factors in Houston point to the oil price slide bottoming out. And, according to recent data from the Federal Reserve Bank of Dallas, Houston is beginning its long climb from the bottom. The Fed reported that December 2016 data showed the Houston Business-Cycle Index contracting an annualized 1.5% month over month. “This suggests that, while the economy has likely begun a period of modest growth, gains may be somewhat choppy going forward,” the report noted.
Employment overall grew an annualized 1% from September 2016 to December 2016, with the largest gain coming from government jobs. Overall, the metro added 6,000 jobs in 2016. Meanwhile, the Bayou City’s unemployment rate was 4.9% in December, with the November rate revised down to 4.5%. The bad news was that the number of job adds in the Greater Houston area fell in 2016 after holding steady.
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