The Greater Houston Partnership forecasts the Houston metro area will create 29,700 net new jobs in 2017, with growth in non-energy and consumer-driven sectors offsetting losses in sectors most closely tied to energy. The forecast calls for the strongest job growth in manufacturing, wholesale trade, retail trade, finance and insurance, real estate, business, professional and technical services, educational services, health care, administrative services, arts and entertainment, accommodation and food services, other services and government. Job losses are expected to continue in exploration and production, oil field services, construction and information.
“The worst of the energy downturn is now over and Houston’s economy will see some growth in 2017,” said Patrick Jankowski, the Partnership’s Senior Vice President of Research. “Our forecast takes into account the impact of both energy and non-energy industries on economic growth in Houston.”
The mission of the Partnership is to make Houston one of the world’s best places to live, work and build a business. To that end, the Partnership provides this forecast to help the Houston business community and those involved in economic development in the region understand trends influencing the region’s economy and driving industry gains or losses. The forecast is meant to help businesses make better investment, staffing and purchase decisions in the coming year.
The Partnership’s Houston Region Economic Outlook event also featured a panel of industry experts representing real estate, energy, banking, and health care. Dr. Thomas Kevin Swift, chief economist and managing director at the American Chemistry Council, delivered this year's keynote presentation on the global and national economic outlook.
To stay informed about Houston’s economy and the efforts of the Partnership to make Houston greater, visit Houston.org to view the 2017 Houston Employment Forecast and the 2016 Houston Economic Highlights.