Houston forecast: construction decline, job growth
HOUSTON – Transwestern’s forecast through 2021 shows a significant decline in downstream construction, according to the Transwestern 3Q 2016 Economy Report.
Construction jobs endured a 1.7 percent decline over the past year. The petrochemical construction trend is nearing completion leaving concern as to where activity will be generated should oil prices not fully rebound.
Despite construction declines, more job growth is forecasted through 2018.
"We expect payroll job growth of approximately 10,000 jobs in 2016 and 30,000 jobs in 2017," Transwestern wrote.
These numbers are based on projections from both the Greater Houston Partnership and the University of Houston Institute for Regional Forecasting.
Below is a sample of some of the charts available on the report:
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