Houston ‘boom is not over’: 112,000 jobs created

HOUSTON – Houston leads the nation in job growth with 112,200 new jobs created for the 12 months ending in July, according to the Texas Workforce Commission.

"I am no economist. But take my word for it: The Boom Is Not Over," says Ralph Bivins, editor of Realty News Report.

That represented a 4 percent gain for Houston’s job market to top the nation’s major metropolitan areas, followed by Dallas-Fort Worth at 3.9 percent and Miami at 3.3 percent.

The energy industry has been supercharging the Houston economy for several years. Many experts, especially the local ones, predicted the economic surge would peter out in 2014.

However, researchers at Marcus & Millichap predicted Houston would gain 111,700 new jobs in 2014. That forecast has turned out exceptionally accurate right now — only 500 jobs off.

Two Houston-based economists did not fare as well with their forecasts. Bill Gilmer, director of the Institute for Regional Forecasting at the University of Houston, predicted 65,000 new jobs would be created.

Patrick Jankowski, the Greater Houston Partnership’s vice president of research, predicted 69,800 new jobs would be created.

For the full report, see Texas Workforce Commission.

Click on Houston-Sugar Land-Baytown Market Data Sources for office, multifamily, housing, industrial data.