August Job Report Provides A Positive Message For Houston
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ADP, a national payroll company, has released figures in a report that states that private American businesses added approximately 176,000 new jobs in the month of August. While a slight decrease from the number of jobs that companies added in the other summer months of 2013 – July and June, it is still on trend for the monthly average for 2013. Hiring was across the board in many industries and was not limited to companies of a specific size, either; businesses in various industries and of all sizes added jobs last month. The most jobs were added in professional and business services, manufacturing and construction.
In the Houston area and Texas in general, numbers have been especially good – even better than the national average. Houston is leading the nation in job growth and Texas economist Ray Perryman notes that while Texas lost 400,000 jobs in the “Great Recession,” more than 800,000 jobs have since been created, according to numbers in August by his firm, The Perryman Group.
Many of these jobs are in the Houston area, according to Perryman, which have contributed to the unemployment rate steadily falling over the past months to 6.2%, much lower than the national average of 7.4%.
The increase in the construction job markets is good news for Houstonians – both those searching for a job in construction or in related industries like architecture and civil or structural engineering.
Demand for housing and office space has been increasing significantly as the economy has been on the upswing and this high demand has caused housing prices to increase with a shortage of available property on the market. As of July 2013, there was only a 3.4-month supply of homes on the market, and sales of single-family homes were up 23.3 percent from July 2012.
Gillian Kruse is a freelance writer living in Houston. She graduated from Rice University with a great love for all performing and visual arts. She enjoys writing about arts and cultural events, especially little-known ones, to help Houstonians learn about what’s going on in their city. Her work can be found at Examiner.com.