A publication of the Greater Houston Partnership

Volume 24 Number 7— July 2015

Timing is Everything — Last December, the Greater Houston Partnership forecast the
nine-county Houston metro area would create 62,900 jobs by year’s end. If the year had
ended on Memorial Day, the forecast would be near the mark. For the 12 months ending
May ’15, Houston created 62,300 jobs, a 2.1 percent annual increase. However, the year
is barely halfway over and only five months of jobs data have been released to date. More
importantly, economic conditions have changed dramatically since the Partnership issued
its original forecast. Those changes warrant the Partnership revisiting and revising its
jobs outlook for this year.
The original forecast was based on several assumptions:
 The North American rig count would fall by 500 rigs this year. It has lost more than
1,000 since its September ’14 peak.
 The energy industry would cut exploration expenditures by 25 percent. The cuts now
approach 40 percent.
 Exports would continue to grow. Through April of this year, exports via the HoustonGalveston Customs District slipped 13.1 percent compared to last year.
 Houston’s population growth would continue. Judging by the out-of-state license
plates in the IKEA parking lot on Saturday night, that hasn’t changed.
 And others sectors had sufficient momentum to sustain job growth well into ’15. Judging by the various indicators, that momentum has somewhat abated.
Houston will not experience job growth to the extent the Partnership originally forecast
for this year, but the region will create jobs. Details of the revised outlook follow.
A Close Look at the Data — The Texas Workforce Commission (TWC) reports jobs data on a month-to-month and annualized basis, i.e., over the preceding 12 months. Monthly data, however, don’t reflect trends, and 12-month totals can be misleading, especially
if growth in the early months differs greatly from that in the later months. That’s the case
with Houston. Though the metro area created 62,300 jobs in the 12 months ending May
’15, most of those jobs came in the second half of ’14.
Examining changes from the employment peak in each sector offers a more accurate assessment. On that basis, employment in most sectors peaked late last year. In some cases,
the losses from the peak are significant. Only leisure and hospitality, health care, government and information continue to add jobs. If not for growth in those sectors, HouJuly 2015

©2015, Greater Houston Partnership

Page 1

 HOUSTON—THE ECONOMY AT A GLANCE
ston’s outlook would be much worse. For the year to close with a net increase in jobs, the
losses in the weakest sectors must stop, some portion of those losses must be recouped,
and growth must continue in the healthiest sectors. Given historic patterns, that will be
difficult, but not impossible.
CHANGE IN METRO HOUSTON EMPLOYMENT
The Typical Cycle — Total nonfarm
SELECTED SECTORS
payroll employment peaked in DeEmployment
Employment
Sector
Peak
Change*
cember ’14, then lost 47,000 jobs in
Leisure and Hospitality
Growing
+16,900
January ’15. That’s about normal for
Health Care
Growing
+4,800
Houston. All sectors (save one) report Government
Growing
+3,400
losses the first month of the year, but Information
Growing
+1,500
six bear the brunt of the layoffs: retail, Manufacturing
Dec ’14
-9,200
finance, business services, administra- Mining and Logging
Dec ’14
-7,100
Dec ’14
-4,900
tive support (e.g., janitorial and con- Retail
Construction
Oct
’14
-4,500
tract work), leisure and hospitality
Dec ’14
-4,500
(e.g., restaurants and bars), and public Transport, Warehousing, Utilities
Dec ’14
-2,500
education. Only the accounting sector Wholesale Trade
Finance and Real Estate
Oct ’14
-2,300
consistently adds jobs in January, as Business Services
Aug ’14
-1,900
CPA firms gear up for tax season. Other Services
Jun ’14
-1,100
Broad-based hiring typically resumes
* Gains measured from December ’14; losses measured from previous peak,
in February, accelerates in March, and Source: Partnership calculations based on Texas Workforce Commission data.
normally by April employment returns
to its previous peak. The pattern can be seen below.

This isn’t a typical year, however. When TWC released data for May, Houston remained
7,300 jobs below December’s total. At this point in the cycle, Houston should be 12,000
to 15,000 jobs above its previous peak. Stated another way, year-to-date employment
growth is at least 20,000 jobs
Total Nonfarm Payroll Employment, Houston Metro Area
short of where it should be.
3.1
3.0

Jobs, Millions

2.9
2.8
2.7
2.6
2.5
2.4
2.3
2.2
'04

'05

'06

'07

'08

'09

'10

'11

'12

'13

'14

'15

'16

Employment usually grows in
June. In robust years (’11, ’12
and ’13), the region adds
10,000 to 12,000 jobs. In
weak years (’04, ’05, ’08), the
region adds 6,000 to 8,000. So
when TWC reports June employment, if Houston finally
surpasses the December peak,
it won’t be by much.

Source: Texas Workforce Commission

July 2015

©2015, Greater Houston Partnership

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 HOUSTON—THE ECONOMY AT A GLANCE
Expect payroll employment to lose ground again in July. The education sector, where 10month contracts are common, always incurs losses as teachers, instructional aids and cafeteria workers fall off school district payrolls in the summer. Combined with smaller seasonal losses elsewhere, July’s cuts have averaged 13,600 jobs over the past 10 years.
The Bright Spot — Houston’s employment always grows in the fall, even in a recession.
Over the past decade, 50 to 60 percent of Houston’s job growth has occurred between
September and December. That’s not surprising given the seasonal job losses earlier in
the year. Barring any surprises, nonfarm payroll employment should return to peak by the
end of the third quarter.
If history repeats itself, and there’s no reason to think it won’t, Houston should see gains
in retail, wholesale, transportation, business services, health care, restaurants and bars and
public education in the fall. Even in ’09, the worst recession since the ’80s, Houston added 17,300 jobs in the final months of the year. Houston should enter the fall of ’15 in better health than it entered the fall of ’09.
What to Expect — Retailers always ramp up for the Christmas shopping season. Employment agencies will place contract workers with companies that need extra help meeting year-end deadlines. After a summer hiring lull, service firms will focus on filling essential open positions. Any increase in business activity will create work for truck drivers
and shipping clerks. Hospitals and clinics will continue to staff up to meet the needs of
Houston’s growing population. New campuses and expanding enrollments will require
more teachers and classroom aids. Restaurants and bars will take on seasonal wait staff to
handle holiday parties. Employment in oil field services may inch up as lease terms require production companies to drill new wells before year’s end. But don’t expect an increase in manufacturing jobs. Plant managers are more likely to pay overtime than hire
additional staff.
So what does job growth look like in the second half of the year?
 In a booming economy, Houston might create 50,000 to 60,000 jobs in the fall.
 In a recovering economy, Houston might create 30,000 to 40,000 jobs in the waning
months.
 In a soft economy, the region might add 20,000 to 30,000 jobs.
Reading the Signals — Weakness in various sectors, not just energy, indicate a soft
economy and that suggests the lower of the three ranges of job growth this year. Local
auto dealers sold fewer vehicles in the first five months of ’15 than in the comparable period in ’14. City of Houston construction permits peaked in the 12 months ending in February and have trended downward since. Realtors sold fewer single-family homes in May
of this year than last. Transwestern estimates the amount of sublease office space on the
market has nearly doubled over the past 12 months. And the Houston Purchasing ManagJuly 2015

©2015, Greater Houston Partnership

Page 3

 HOUSTON—THE ECONOMY AT A GLANCE
ers Index (PMI), a leading indicator
for regional production, registered
46.1 in May. Readings below 50
suggest contraction in the near
term. May’s PMI does reflect an
improvement from April’s reading
of 42.7.

SELECTED HOUSTON ECONOMIC INDICATORS
Indicator
Purchasing Managers Index
Customs District Exports
$ Billions, April Year-to-Date

City of Houston Construction Permits
$ Billions, Year-to-Date

May ’15

May ’14

%∆

46.1

59.2

-

37.827

43.516

-13.1

3.145

3.644

-13.7

Not all is gloom and doom, howev- Sales Tax Collections, City of Hous284.1
270.1
+5.1
er. Oil prices have stabilized. The ton, $ Millions, Year-to-Date
Airport System Traffic
21.637
21.251
+1.8
fall in the rig count appears to have Houston
Total Passengers, Millions, Year-to-Date
hit bottom. The fleet actually added Apartment Occupancy
91.2
91.1
rigs the third week of June. Center- All Classes (A, B,C & D), %
Point continues to sign up new cus- Apartment Rental Rates
1.09
1.024
+6.4
Class A, $/Sq. Ft.
tomers and electricity consumption Hotel Occupancy
71.6
73.6
is up for the year. Traffic through Average %, Houston MSA, Q1/14 v Q1/15
the Houston Airport System con- Motor Vehicle Sales
154,394 163,502
-5.6
tinues to grow. With only a 3.1 Total Units, Year-to-Date
Single-Family Home Sales
27,869
28,224
-1.3
month supply of homes on the Houston Market, Year-to-Date
market there’s little danger of near- Median Price, Single Family Home
206,554 190,098
+8.6
term overbuilding. (A 6.0 month $, Houston Market, YTD Average
inventory
3.1
2.8
supply is considered a balanced Single-family
Months of supply
market.) Apartment occupancy and Unemployment Rate
4.2
5.0
lease rates are holding firm (good Unadjusted (%)
Payroll Employment
news for landlords but bad news for Nonfarm
2.1
2.9
Annualized Growth Rate (%)
tenants). At 4.2 percent, Houston’s Sources: Institute for Supply Management - Houston, WISERTrade, Kiley Advisors, Houston
May unemployment rate is well be- Airport System, Apartment Data Services, PKF Consulting, TexAuto Facts, Houston Association of Realtors, Texas Workforce Commission
low the 5.3 percent national average. And several respondents to a June Texas manufacturing survey told the Federal Reserve Bank of Dallas they believed the worst was over for the oil and gas industry.
The Forecast — Given the softness in the local economy, the Partnership anticipates the
region will gain 20,000 to 30,000 jobs this year, not as robust as previous years but still in
positive territory. As with the Partnership’s earlier forecast, the revised outlook is based
on a number of assumptions. Oil prices, though they may experience short-term volatility, average $60 or above the remainder of the year. The rig count has bottomed out. The
majority of the energy-related layoffs have taken place. Local business confidence holds
firm. Consumer spending slows only moderately. The U.S. economy expands at an annual rate of 2.5 percent or better the remainder of the year. And any geopolitical events that
occur—Greece exiting from the Eurozone, a downturn in China’s economy, major terrorist attack overseas—have a limited impact on the U.S. economy.
July 2015

©2015, Greater Houston Partnership

Page 4

 HOUSTON—THE ECONOMY AT A GLANCE
The Forecast in Context — Those who have lived and worked in Houston for a quarter
century or more recognize the resilience of the local economy. Since ’90, Houston has
experienced in only four years of net job losses. With the exception of ’09, a global recession that no industry, metro or nation could avoid, Houston’s losses in a downturn
tended to be mild.

Net Change in Houston Emloyment
December to December, 000s

118.5

107.0

98.4

92.8

44.3
18.7

91.1

104.7
90.7

82.9

62.3

59.7

53.4 54.4 53.0

89.9

49.7
39.3

10.6

-8.1

21.6

17.8
1.3
-1.7

-11.6

-110.6
'90 '91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15*

Source: Texas Workforce Commission

* for the 12 months ending May '15

Even with the downturns, Houston has compiled an impressive history of growth. From
January ’90 to the present, Houston has added more than 1.2 million jobs, gained 2.7 million residents, and quadrupled the size of its gross regional product. Houston accomplished this as oil prices went from $22.86 per barrel (Jan ’90) to $11.35 (Dec ’98) to
$133.88 per barrel (June ’08) to $59.29 (December ’14). Houston now faces a short period of uncertainty—perhaps six to 18 months—but the region has a long track record of
impressive growth. The factors that supported that growth remain intact, assuring that this
year's slowdown is a lull, not a new normal.

July 2015

©2015, Greater Houston Partnership

Page 5

 HOUSTON—THE ECONOMY AT A GLANCE

SNAPSHOT — HOUSTON’S KEY ECONOMIC INDICATORS
Building Permits — City of Houston construction permits totaled $8.2 billion for the 12
months ending May ’15, up 10.6 percent from $7.4 billion for the 12 months ending May
’14, according to the latest data released by the city’s Department of Public Works & Engineering Planning & Development Services. Despite May’s running total exceeding last
year’s total, construction has trended downward since the first of the year, with total construction peaking at $8.9 billion in February.
Inflation — The cost of consumer goods and services as measured by the Consumer
Price Index for All Urban Consumers (CPI-U) was unchanged nationwide from May ’14
to May ’15 according to data released today by the U.S. Bureau of Labor Statistics. Core
inflation (all items less the volatile food and energy categories) rose 1.7 percent over the
past 12 months.
Home Sales — The Houston housing market experienced a mixed bag of indicators in May.
Year-over-year, single family home sales and total property sales declined while total dollar
volume remained flat. However, home prices reached record highs for the Houston area.
Single-family home sales declined 4.3 percent from 7,110 in May ’14 to 6,807 in May ’15.
Meanwhile, the average price of a single-family home grew 4.5 percent from $279,442 in
May ’14 to $292,040 in May ’15. During the same period, the median price of a singlefamily home rose 10.5 percent to $223,000.
Purchasing Managers Index — The Houston Purchasing Managers Index (PMI), a shortterm leading indicator for regional production, registered 46.1 in May, an increase from 42.7
in April, according to the latest report from the Institute for Supply Management-Houston
(ISM-Houston). After two months of declines, Houston’s PMI registered its first month-tomonth increase in May.
Vehicle Sales — Houston-area auto dealers sold 33,517 vehicles in May ’15, an 8.1 percent
decrease from the 36,465 sold May ’14, according to TexAuto Facts, published by InfoNation, Inc. of Sugar Land. Over the first five months of ’15, vehicle sales totaled 154,394, a
5.6 percent decrease from the 163,502 sold in the first five months of ’14.
Patrick Jankowski and Jenny Philip
contributed to this issue of
Houston: The Economy at a Glance

July 2015

©2015, Greater Houston Partnership

Page 6

 HOUSTON—THE ECONOMY AT A GLANCE

Stay Up To Date!
To access past issues of Economy at a Glance, please click here.
If you are a nonmember and would like to receive this electronic publication, please email
your request for Economy at a Glance to echambers@houston.org. Include your name,
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joining the Greater Houston Partnership, call Member Services at 713-844-3683.
The Key Economic Indicators table is updated whenever any data change — typically, 11
or so times per month. If you would like to receive these updates by e-mail, usually
accompanied by commentary, please email your request for Key Economic Indicators to
echambers@houston.org with the same identifying information. You may request Glance
and Indicators in the same email.

July 2015

©2015, Greater Houston Partnership

Page 7

 HOUSTON—THE ECONOMY AT A GLANCE
HOUSTON MSA NONFARM PAYROLL EMPLOYMENT (000)
Change from
Apr '15
May '14

% Change from
Apr '15
May '14

May '15

Apr '15

May '14

2,985.3
2,598.2
563.8
2,421.5
2,034.4

2,971.6
2,584.5
569.0
2,402.6
2,015.5

2,923.0
2,543.5
565.2
2,357.8
1,978.3

13.7
13.7
-5.2
18.9
18.9

62.3
54.7
-1.4
63.7
56.1

0.5
0.5
-0.9
0.8
0.9

2.1
2.2
-0.2
2.7
2.8

Mining and Logging
Oil & Gas Extraction
Support Activities for Mining

108.4
54.7
52.9

110.5
54.3
54.7

108.6
53.9
53.4

-2.1
0.4
-1.8

-0.2
0.8
-0.5

-1.9
0.7
-3.3

-0.2
1.5
-0.9

Construction

205.9

206.4

203.6

-0.5

2.3

-0.2

1.1

Manufacturing
Durable Goods Manufacturing
Nondurable Goods Manufacturing

249.5
168.4
81.1

252.1
170.8
81.3

253.0
173.4
79.6

-2.6
-2.4
-0.2

-3.5
-5.0
1.5

-1.0
-1.4
-0.2

-1.4
-2.9
1.9

Wholesale Trade

169.9

170.4

167.0

-0.5

2.9

-0.3

1.7

Retail Trade

303.8

298.5

290.1

5.3

13.7

1.8

4.7

Transportation, Warehousing and Utilities
Utilities
Air Transportation
Truck Transportation
Pipeline Transportation

134.5
16.0
20.3
25.7
10.5

133.9
16.0
20.3
25.5
10.5

133.3
15.7
20.5
24.6
10.2

0.6
0.0
0.0
0.2
0.0

1.2
0.3
-0.2
1.1
0.3

0.4
0.0
0.0
0.8
0.0

0.9
1.9
-1.0
4.5
2.9

Information
Telecommunications

33.7
14.9

34.3
15.0

33.1
15.1

-0.6
-0.1

0.6
-0.2

-1.7
-0.7

1.8
-1.3

Finance & Insurance

94.7

93.9

93.2

0.8

1.5

0.9

1.6

Real Estate & Rental and Leasing

52.6

52.7

54.3

-0.1

-1.7

-0.2

-3.1

469.6
221.6
25.1
22.9
75.1
32.5
214.9
203.1
77.3

464.3
222.5
25.2
24.7
76.0
32.3
208.7
197.2
73.9

463.2
215.1
23.6
21.8
73.2
32.3
214.1
203.4
80.9

5.3
-0.9
-0.1
-1.8
-0.9
0.2
6.2
5.9
3.4

6.4
6.5
1.5
1.1
1.9
0.2
0.8
-0.3
-3.6

1.1
-0.4
-0.4
-7.3
-1.2
0.6
3.0
3.0
4.6

1.4
3.0
6.4
5.0
2.6
0.6
0.4
-0.1
-4.4

54.5

55.1

52.5

-0.6

2.0

-1.1

3.8

Health Care & Social Assistance

309.8

307.3

296.6

2.5

13.2

0.8

4.5

Arts, Entertainment & Recreation

33.5

31.0

31.8

2.5

1.7

8.1

5.3

Accommodation & Food Services

273.4

270.2

258.5

3.2

14.9

1.2

5.8

Other Services

104.4

103.9

104.7

0.5

-0.3

0.5

-0.3

Government
Federal Government
State Government
State Government Educational Services
Local Government
Local Government Educational Services

387.1
27.9
72.4
39.8
286.8
199.9

387.1
28.0
73.4
40.3
285.7
200.1

379.5
27.6
72.1
39.6
279.8
195.1

0.0
-0.1
-1.0
-0.5
1.1
-0.2

7.6
0.3
0.3
0.2
7.0
4.8

0.0
-0.4
-1.4
-1.2
0.4
-0.1

2.0
1.1
0.4
0.5
2.5
2.5

Total Nonfarm Payroll Jobs
Total Private
Goods Producing
Service Providing
Private Service Providing

Professional & Business Services
Professional, Scientific & Technical Services
Legal Services
Accounting, Tax Preparation, Bookkeeping
Architectural, Engineering & Related Services
Computer Systems Design & Related Services
Admin & Support/Waste Mgt & Remediation
Administrative & Support Services
Employment Services
Educational Services

SOURCE: Texas Workforce Commission

July 2015

©2015, Greater Houston Partnership

Page 8

 HOUSTON—THE ECONOMY AT A GLANCE
Houston Economic Indicators
A Service of the Greater Houston Partnership

YEAR-TO-DATE TOTAL or
YTD AVERAGE*

MONTHLY DATA
Month

Most
Recent

ENERGY
U.S. Active Rotary Rigs
Spot Crude Oil Price ($/bbl, West Texas Intermediate)
Spot Natural Gas ($/MMBtu, Henry Hub)

May '15
May '15
May '15

889
59.47
2.83

1,859
102.23
4.53

-52.2
-41.8
-37.5

1,194 *
52.08 *
2.82 *

1,808 *
100.22 *
4.76 *

-34.0
-48.0
-40.8

UTILITIES AND PRODUCTION
Houston Purchasing Managers Index
Nonresidential Electric Current Sales (Mwh, CNP Service Area)

May '15
May '15

46.1
4,904,644

59.2
4,237,991

-22.1
15.7

46.3 *
21,829,118

58.3 *
20,742,066

-20.6
5.2

May '15
May '15
May '15
May '15
May '15
May '15
May '15
May '15
May '15
May '15

1,406,295,000
689,120,000
717,175,000
596,954,584
414,981,705
279,544,525
135,437,180
181,972,879
163,549,276
18,423,603

1,699,246,000
784,500,000
914,746,000
971,764,397
604,507,316
439,366,231
165,141,085
367,257,081
340,298,206
26,958,875

-17.2
-12.2
-21.6
-38.6
-31.4
-36.4
-18.0
-50.5
-51.9
-31.7

May '15
May '15
May '15

8,278
223,000
30,550

8,642
201,750
28,712

-4.2
10.5
6.4

33,913
206,554 *
28,618 *

May '15
May '15
May '15

2,985,300
563,800
2,421,500

2,923,000
565,200
2,357,800

2.1
-0.2
2.7

2,968,260 *
571,320 0
2,396,940 0

May '15
May '15
May '15

4.2
4.1
5.3

5.0
5.1
6.1

Apr '15
May '15
May '15
May '15
May '15
May '15
May '15
May '15

4,811,422
4,647,516
3,781,921
865,595
67,853
33,411
17,839
15,571

3,937,494
4,622,072
3,765,525
856,547
68,909
35,509
18,769
16,739

22.2
0.6
0.4
1.1
-1.5
-5.9
-5.0
-7.0

16,509,814
21,635,312
17,517,228
4,118,084
328,755
177,002
92,524
84,478

14,742,516
21,251,961
17,251,365
4,000,596
335,892
175,130
92,904
82,227

12.0
1.8
1.5
2.9
-2.1
1.1
-0.4
2.7

May '15
May '15
May '15
4Q14

33,517
13,427
20,090
34,260

36,465
15,593
20,872
37,618

-8.1
-13.9
-3.7
-8.9

154,394
63,806
90,588
123

163,502
70,052
93,450
116

-5.6
-8.9
-3.1
5.6

May '15
May '15

212.4
237.805

213.3
237.9

-0.4
0.0

211.300 *
235.790 *

212.100 *
235.992 *

-0.4
-0.1

4Q14
4Q14
4Q14

68.1
106.52
72.49

65.9
101.26
66.77

5.2
8.6

71.8 *
106.87 *
76.76 *

69.1 *
101.19 *
69.92 *

5.6
9.8

CONSTRUCTION
Total Building Contracts ($, Houston MSA)
Nonresidential
Residential
Building Permits ($, City of Houston)
Nonresidential
New Nonresidential
Nonresidential Additions/Alterations/Conversions
Residential
New Residential
Residential Additions/Alterations/Conversions
Multiple Listing Service (MLS) Activity
Property Sales
Median Sales Price - SF Detached
Active Listings
EMPLOYMENT (Houston-Sugar Land-Baytown MSA)
Nonfarm Payroll Employment
Goods Producing (Natural Resources/Mining/Const/Mfg)
Service Providing
Unemployment Rate (%) - Not Seasonally Adjusted
Houston-Sugar Land-Baytown MSA
Texas
U.S.
TRANSPORTATION
Port of Houston Authority Shipments (Short Tons)
Air Passengers (Houston Airport System)
Domestic Passengers
International Passengers
Landings and Takeoffs
Air Freight (metric tons)
Enplaned
Deplaned
CONSUMERS
New Car and Truck Sales (Units, Houston MSA)
Cars
Trucks, SUVs and Commercials
Total Retail Sales ($000,000, Houston MSA, NAICS Basis)
Consumer Price Index for All Urban Consumers ('82-'84=100)
Houston-Galveston-Brazoria CMSA
United States
Hotel Performance (Houston MSA)
Occupancy (%)
Average Room Rate ($)
Revenue Per Available Room ($)

July 2015

Year
%
Earlier Change

Most
Recent

7,131,277,000
2,934,192,000
4,197,085,000
3,145,907,862
2,034,041,660
1,165,194,217
868,847,443
1,111,866,202
1,014,014,229
97,851,973

4.2 *
4.2 *
5.6 *

©2015, Greater Houston Partnership

Year
Earlier

%
Change

11,935,662,000
7,790,228,000
4,145,434,000
3,644,067,547
2,425,455,752
1,573,542,661
851,913,091
1,218,611,795
1,085,846,664
132,765,131

-40.3
-62.3
1.2
-13.7
-16.1
-26.0
2.0
-8.8
-6.6
-26.3

34,468
190,098 *
28,712 *

-1.6
8.7
-0.3

2,884,980 *
557,940 *
2,327,040 *

2.9
2.4
3.0

5.2 *
5.4 *
6.6 *

Page 9

 HOUSTON—THE ECONOMY AT A GLANCE

Sources
Rig Count
Spot WTI, Spot Natural Gas
Houston Purchasing Managers
Index

Baker Hughes Incorporated
U.S. Energy Information Admin.
National Association of
Purchasing Management –
Houston, Inc.
Electricity
CenterPoint Energy
Building Construction Contracts McGraw-Hill Construction
City of Houston Building Permits Building Permit Department,
City of Houston
MLS Data
Houston Association of Realtors
Employment, Unemployment
Texas Workforce Commission

July 2015

Port Shipments
Aviation
Car and Truck Sales
Retail Sales
Consumer Price Index
Hotels
Postings, Foreclosures

©2015, Greater Houston Partnership

Port of Houston Authority
Aviation Department, City of
Houston
TexAuto Facts Report, InfoNation, Inc.,
Sugar Land TX
Texas Comptroller’s Office
U.S. Bureau of Labor Statistics
PKF Consulting/HospitalityAsset
Advisors International
Foreclosure Information &Listing
Service

Page 10

 HOUSTON—THE ECONOMY AT A GLANCE

3,000

150

2,900

120

2,800

90

2,700

60

2,600

30

2,500

0

2,400

-30

2,300

-60

2,200

-90

2,100

-120

2,000

12-Month Change (000)

Nonfarm Payroll Employment (000)

Nonfarm Payroll Employment, Houston MSA

-150
'05

'06

'07

'08

'09

'10

'11

12-Month Change

'12

'13

'14

'15

'16

Total Payroll Employment

Source: Texas Workforce Commission

Goods-Producing and Service-Providing Employment
Houston MSA
620

2,500

2,300
540

2,200
2,100

500

2,000
460

Service-Providing Jobs (000s)

Goods-Producing Jobs (000s)

2,400
580

1,900
420

1,800

'05

'06

'07

'08

'09

'10

Goods-Producing Jobs

'11

'12

'13

'14

'15

'16

Service-Providing Jobs

Source: Texas Workforce Commission

July 2015

©2015, Greater Houston Partnership

Page 11

 HOUSTON—THE ECONOMY AT A GLANCE
Unemployment Rate - Houston, Texas and U.S.
11
10

% Civilian Labor Force

9
8
7
6
5
4
3
'05

'06

'07

'08

'09

'10

Houston

'11

'12

Texas

'13

'14

'15

'16

U.S.

Source: Texas Workforce Commission

Spot Crude and Natural Gas Prices
160

16

140

14

120

12

100

10

80

8

60

6

40

4

20

2

0

0
'05

'06

'07

'08

'09

'10

'11

'12

'13

'14

'15

Natural Gas, $ /mcf

WTI, $ barrel

Monthly Averages

'16

WTI
Natural Gas
Source: U.S. Energy Information Administration

July 2015

©2015, Greater Houston Partnership

Page 12