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The Greater Houston Partnership forecasts the 10-county Houston metro area will create 76000 jobs in 13 Employment will grow in all sectors with construction health care and leisure and hospitality turning in the strongest performances Next year should end with Houston at a little more than 28 million jobs a milestone for the region By December 13 Houston will employ more people than are employed in 34 states or the District of ColumbiaSeveral factors will drive job growthstable oil prices construction at area chemical plants healthy demand overseas for Houstons exports strong demand for single- and multifamily housing and sustained population and income growth The Partnerships forecast is based on several assumptionsCongress reaches an accord on spending cuts and tax increasesif not soon then early in 13Gross domestic product GDP the broadest measure of the nations economic activity grows at an annual rate of 20 percent or betterThe price of West Texas Intermediate WTI the benchmark US light sweet crude remains above 75 per barrelThe value of the US dollar remains stable against other major currencies Houstons major trading partners continue to buy the regions goods and servicesThe Current SituationFor the 12 months ending October 12 the metro area created 95800 jobs This represents the strongest job creation since 07 when Houston created 95400 jobs over the 12 months ending in October of that year Four sectors account for the bulk of that job creation this yearleisure and hospitality 22300 jobs education and health care 18400 jobs construction 17400 jobs and trade transportation and utilities 16900 jobs This year should end with 92200 more jobs than 11 making it the third best year for job creation in the past two decadesThe forces driving job growth have shifted though In January the energy sector accounted for one in 10 new jobs construction one in 22 By October the roles had reversed Energy accounted for one in 20 new jobs construction one in six Historically
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