The Partnership sends updates for the most important economic indicators each month. If you would like to opt-in to receive these updates, please click here.
For the latest data, click here.
Metro Houston created 88,000 jobs, a 2.8 percent increase, in the 12 months ending December ’19, according to data released today by the Texas Workforce Commission (TWC). The level of reported job growth is not supported by other economic indicators.
As noted on page 21 of the Partnership’s employment forecast, TWC often overestimates job growth. This time last year, TWC reported metro Houston added 108,300 jobs (Dec ’17 – Dec ’18), only to revise that to 73,300 jobs when it issued its benchmark revisions four months later. Assuming TWC’s current estimates are overstated by a comparable amount, the region has likely added 50,000 to 60,000 jobs in the 12 months ending December ’19, with most of those gains occurring earlier in the year.
Houston's unemployment rate was 3.6 percent in December, unchanged from 3.6 percent in November but down from 3.9 percent in December of last year. The Texas rate in November was 3.3 percent. The U.S. rate was 3.4 percent. The rates are not seasonally adjusted.
Patrick Jankowski, CERP
Senior Vice President, Research
Elizabeth Balderrama, PCED
Metro Houston created 88,000 jobs since December '18