The recent studies shows a slower job growth then previous years hopefully the new administration will change that,corporate housing companies owners say they felt it strongly over 2016,"the downturn hit us hard" HCH CEO said.all due the multi family residential development inserted many apartments into the market over the last year ,corporate housing owners reduced their inventory.
Texas added an estimated 210,200 jobs in 2016, according to the Texas Workforce Commission, but the Houston metropolitan statistical area ended 2016 with a higher unemployment rate than the year before.
Meanwhile, job growth in Texas is slowing, said PNC economist Kurt Rankin. Growth in 2016 was more than 2015 but far less than previous years.
Texas added an estimated 210,200 jobs in 2016, according to the Texas Workforce… more
2015: 175,700 jobs added
2014: 297,000 jobs added
2013: 361,000 jobs added
"It doesn't mean that things are going poorly, but it does mean that those gains are slowing," Rankin said.
Job growth in Dallas grew more than 4 percent this year compared with under 1 percent for Houston. Other oil-heavy markets in Texas dragged down state averages.
Rankin said 2017 will be more in-line with 2016, and Texas won't see another 300,000 or 400,000 increase in jobs.
Houston's unemployment rate for December was 5.3 percent, up from 4.6 percent in December 2015 and higher than other large Texas cities.
The unemployment rate in Dallas-Fort Worth-Arlington was 3.7 percent in December. The report breaks that down even further into west and east sides of North Texas. Dallas-Plano-Irving's unemployment rate was 3.6 percent and Fort Worth-Arlington was 3.8 percent.
Austin was 3.2 percent, and San Antonio was 3.7 percent. The state average was 4.6 percent.