While Texas gained jobs in July, Houston has lost jobs.
Although Houston lost jobs in July, the loss is expected and
here are the reasons why. Texas added 31,400 jobs in July, second only to
California. The situation in Houston is occurring due to several factors.
First, job growth has outpaced population growth and there are not enough
workers to fill the slots that new job opportunities are creating. Also, the summer
leaves a lot of teachers not working. Considering the loss of jobs the summer
brings when teachers are off work, most economists would have predicted Houston
losing about 13,000 jobs, however, Houston only lost 4,900 jobs. Greater
Houston unemployment registered 4.7 percent for the month — above the Texas
average of 4.2 percent, but below the national rate of 5.3 percent. Economics
is always up and down but I am sure that before long, Houston will be creating
jobs again.
I bet Houston will gain back the lost jobs in no time.
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