Greater Houston Partnership Predicts Modest 2017 Job Growth
The highly anticipated Greater Houston Partnership employment forecast has been released; it predicts roughly 29,700 jobs to be added in Houston in 2017, up from 2016's forecast of 21,900. Construction is expected to take the biggest hit with a projected 16,000 jobs lost in 2017. The oil & gas industry is forecast to see about 3,500 more job losses next year. The industry needs to reach a sustained $60 a barrel to do well, and Patrick Jankowski, the regional economist who prepared the forecast, doesn't see that happening in 2017. Most new jobs will come from the healthcare sector—Patrick estimates the sector will produce about 9,800 jobs in the next year. Other sectors expected to have positive job growth include hospitality, food services, government and retail.