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Houston Crushing Other Markets in Job Creation

 
Houston Crushing Other Markets in Job Creation
Posted May 30th, 2013 @ 4:12am by KTRH's Nik Rajkovic

We already know Houston's economy is booming, and thanks to new government figures, now the rest of the country knows too.

Not only has Houston recovered all the jobs it lost during the recent recession, the Bayou City has added more than two jobs for every one it lost to begin with.

The city has averaged 100,000 new jobs each year for the past decade – a feat which drives the region's entire economy.

“Once you start paying the engineers $100,000 a year, once you start paying people in the oil industry $150,000 a year, those people then take their paychecks to restaurants and movie theaters,” says Patrick Jankowski at the Greater Houston Partnership.

“We're seeing jobs created in oil and gas, we're seeing them created in the restaurants and movies theaters, which means whatever your age level, level of education attainment or skill level, you can probably find a job in Houston,” he tells KTRH News.

Coincidentally, Dallas ranks second for jobs recovered since the recession.  Naysayers still argue Texas hasn't recovered or created anything, it has just poached jobs from elsewhere.

“The term 'poaching' bothers me,” says Jankowski.  “The U.S. is a free market, and in true economics, a true free market, labor and capital flows to where it's going to employed most efficiently.”

He credits lessons learned from the economic crash in the late 1980s for Houston's robust growth today.  And there's still plenty of room to grow, especially with Houston's flat, expansive landscape.

“I like to joke the only thing that will stop Houston's growth to the north is Dallas,” says Jankowski.  “The only thing Houston might bump up against in the west is Austin.”

Jankowski admits nothing lasts forever, but all trends point to Houston realizing continued growth for at least five more years. 

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