Monthly Update: Houston Metro Employment
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Metro Houston created 57,800 jobs in ’24, according to data posted today by the Texas Workforce Commission (TWC). The Partnership’s forecast, released in December ’23, called for the region to add 57,600 jobs in ’24. For an economy with 3.5 million jobs, the 200-job difference is essentially a rounding error.
Seventeen of the 19 major sectors tracked by TWC added jobs in ’24, the largest gains coming in construction, health care, wholesale trade, professional and business services, and restaurants and bars. These sectors benefitted from a strong U.S. economy, expanding global trade, local population growth, a host of corporate relocations to the region, and a surge in commercial and residential construction activity.
Only two sectors, retail and administrative support, lost jobs. The former suffered from a rash of retail bankruptcies and store closures, the latter from more Houstonians opting for gig work rather than seeking contract assignments through an employment agency.
Since May ’20, when the economy reopened after shutting down early in the pandemic, the region has created over 667,000 jobs. Payroll employment today exceeds pre-pandemic levels by more than 308,000 jobs. With the December report, total payroll employment is at a record 3.5 million for the region.
Prepared by Greater Houston Partnership Research
Patrick Jankowski, CERP
Chief Economist
Senior Vice President, Research
[email protected]
