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March 16, 2017 Comments Off on Good News for Houston: “The Worst is Over” Views: 302 Houston-Galveston, Texas News

Good News for Houston: “The Worst is Over”

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The Greater Houston Partnership’s “Economy at a Glance” report for February 2017 introduced some positive news. Namely, that “the revised employment data shows that the worst is over,” the report said. “Other indicators support that point.”

First, the employment news. Metro Houston ended up creating 18,700 jobs in 2016, according to benchmark revisions issued in March 2017 by the Texas Workforce Commission. Though this is far from the 100,000-plus jobs created a handful of years ago, it’s a lot higher than the TWC’s initial estimate of 14,800 jobs.

Other indicators introduced by GHP include

  • Record home sales set for February
  • An increase of the North American rig count, which has risen 90% over the past 10 months
  • A Houston Purchasing Managers Index of 54.2 in February, indicating expansion for the fifth consecutive month

The GHP is forecasting 29,700 jobs for Houston in 2017.

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