Houston Economic Update - May 2012

8/2/2019 Houston Economic Update - May 2012

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May 2012 2012, Greater Houston Partnership Page 1

A publication of the Greater Houston Partnership Volume 21, Number 5 May2012

Houston Moves Up a Notch The Houston-Sugar Land-Baytown Metropolitan Statis-tical Area now ranks as the 5th largest metro in the United States, according to data re-cently released by the U.S. Census Bureau. The bureau estimates that Houston added139,738 residents, between April 1, 2010 (the date of the decennial census) and July 1,2011 (the date of the intercensal estimates). Houston overtook the formerly 5th rankedPhiladelphia metro area, which only added 27,071 residents during the same time frame.

Estimated Population U.S. 10 Most Populous Metro Areas

Rank Metro AreaPopulation Change

7/1/11 4/1/10 # %

1 New York-Northern New Jersey-Long Island 19,015,900 18,897,109 118,791 0.63%

2 Los Angeles-Long Beach-Santa Ana 12,944,801 12,828,837 115,964 0.90%

3 Chicago-Joliet-Naperville 9,504,753 9,461,105 43,648 0.46%

4 Dallas-Fort Worth-Arlington 6,526,548 6,371,773 154,775 2.43%

5 Houston-Sugar Land-Baytown 6,086,538 5,946,800 139,738 2.35%

6 Philadelphia-Camden-Wilmington 5,992,414 5,965,343 27,071 0.45%

7 Washington-Arlington-Alexandria 5,703,948 5,582,170 121,778 2.18%

8 Miami-Fort Lauderdale-Pompano Beach 5,670,125 5,564,635 105,490 1.90%

9 Atlanta-Sandy Springs-Marietta 5,359,205 5,268,860 90,345 1.71%

10 Boston-Cambridge-Quincy 4,591,112 4,552,402 38,710 0.85%

Source: U.S. Census Bureau

The bureau looked at three components to estimate population change:

The natural increase (i.e., the number of births minus the number of deaths) Net international migration (i.e., the number of residents moving into Houston

from outside the U.S. minus those who left Houston for locations overseas), and Net domestic migration (i.e., the number of residents moving into Houston from

elsewhere in the U.S. minus those who moved from Houston to locations else-where in the U.S.)


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HOUSTONTHE ECONOMY AT A GLANCE


Houston had the fourth highest rate of net migration among the nations 10 largest metroareas. Several metro areas had negative net in-migration and would have lost populationwithout the natural increase.

Based on the most recent Census Bureau estimates, Houstons population is growing atthe rate of 112,000 new residents each year, 64,000 through natural increase and 48,000through net in-migration. Thats slightly off the pace of the past decade when Houston

added 120,000 residents per year, 62,000 through natural increase and 58,000 through netin-migration. If net migration dropped to zero, an unlikely scenario given Houstons cur-rent job growth and strong economy, Houston would still grow by 60,000 residents peryear and add well over 600,000 during thenext decade.

At the current rate of growth, Houston willadd another million residents this decade.Over the past three decades, Houstonspopulation has grown by a million or more

residents per decade. Over the past 30 years,the metro population has doubled and Hou-ston has risen from being the 10th to thefifth most populous metro area in the nation.

1 In the 80s, the Houston metro area consisted of Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery andWaller Counties. In the 00s, Austin and San Jacinto counties were added to the metro area.

Components of Population Change 10 Most Populous Metro Areas

April 1, 2010 Through July 1, 2011

Metro AreaTotal

changeNatural

increase

Net in-migration

Total International Domestic

New York 118,791 140,465 -21,038 103,521 -124,559

Los Angeles 115,964 118,726 -3,197 68,197 -71,394

Chicago 43,648 77,631 -34,206 30,468 -64,674

Dallas 154,774 79,464 74,789 28,732 46,057

Houston 139,699 80,133 59,340 30,016 29,324

Philadelphia 27,071 28,694 -1,284 14,618 -15,902

Miami 121,911 60,573 60,963 31,536 29,427

Washington 105,490 25,220 80,259 43,538 36,721

Atlanta 90,345 53,218 36,686 21,826 14,860

Boston 38,710 22,896 16,137 19,290 -3,153


Population Change Houston Metro Area1

Year Population U.S. Rank

2011 6,086,538 5th

2010 5,946,800 6th

2000 4,715,407 10th

1990 3,766,783 10th

1980 3,147,240 10th



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The Beat Goes On Houston will be home to between 7.9 and 11.4 million residentsby 35, according to forecasts by the Texas State Data Center (TSDC). The center basesits estimates on four different scenarios:

The 90-00 Migration Scenario assumes that the migration patterns of the 90s return,a scenario TSDC admits is unlikely, but should it occur, the regions population willincrease 86.5 percent to 11.4 million residents by 35.

The One-Half 90-00 Migration Scenario assumes migration at half of the rate expe-rienced in the 90s. In this scenario, the Houston region will grow 29.7 percent to 7.9million resident over the next 24 years.

The 00-07Migration Scenario assumes the migration rates of 00-07 prevail. Hou-ston will be home to 10.6 million residents in 35, a 73.7 percent increase from 11.

The 00-04 Migration Scenario accounts for trends between 00-04 and factors outthe impact of the Hurricane Katrina evacuations. Under this projection, the metro

population will grow by 65.1 percent to 10.1 million by 35.

Houston Metro Forecast

Metro CountyPopulation in 35 Based on Each Scenario

90-00 MigrationOne-Half 90-00

Migration00-07 Migration 00-04 Migration

Austin 35,783 31,949 40,745 42,086

Brazoria 564,107 406,799 596,638 520,409

Chambers 71,981 46,091 68,597 62,861

Fort Bend 1,263,315 737,203 1,613,962 1,418,069

Galveston 329,719 300,665 433,904 407,611

Harris 7,586,251 5,496,890 6,304,495 6,138,314

Liberty 165,787 116,522 106,704 131,773

Montgomery 1,176,246 655,725 1,298,976 1,227,359

San Jacinto 47,504 33,628 38,567 24,640

Waller 110,383 69,256 67,802 78,710

Total 11,351,076 7,894,728 10,570,390 10,051,832Change from 11 86.5% 29.7% 73.7% 65.1%

Source: Texas State Data Center

By comparison, the Washington-based consulting firm Woods & Poole forecaststhe metro population will reach 9,126,350 by 2035. The Waco-based PerrymanGroup forecasts Houstons population will reach 9,334,400 over the same timeframe.


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Wheres Everyone Coming From? The U.S. Census Bureau, working with datafrom the Internal Revenue Service (IRS), has developed a series of estimates for popu-lation flows from county-to-county and state-to-state. The estimates are based on ad-ministrative data collected from every Form 1040, 1040A, and 1040EZ processed bythe IRS. As a precaution, the IRS gives each record a Protective Identification Key

and then strips Social Security numbers and taxpayer names from the records. The bu-reau only has access to items needed to support their analysis, which is based on taxrecords, so there are flaws in the data. For example, not everyone files a tax return. Anindividual tax payer may report his or her business as the returns address. Taxpayersmay have dual residences. If the taxpayer is a college student, they may file with ahome address one year and the college address in another. Allowing for these andother limitations, the data does provide insight into migration patterns. The Partner-ships research department has extracted data for the 10-county Houston metro areaand conducted its own analysis on population flows from 09 to 10. The highlights:

Houston continues to draw residents from all 50 states,

More people relocate to Houston from elsewhere in Texas than from the re-maining 49 states combined, and

More people move to Houston from Louisiana than any other state.

The top ten states, metros and counties supplying migrants to Houston can be foundbelow.

Top Ten Sources of Domestic Migration, From 09 to 10Ranked by Number of Migrants to Houston*

By State By Metro Area By County

Louisiana New Orleans, LA Orleans Parish, LA

California Los Angeles, CA Los Angeles County, CA

Florida New York, NY Jefferson Parish, LA

Illinois Chicago, IL Cook County, IL

New York Miami, FL Miami-Dade County, FL

Georgia Washington, DC East Baton Rouge Parish, LA

Oklahoma Atlanta, GA San Diego County, CA

Virginia Riverside, CA San Bernardino County, CA

Colorado Baton Rouge, LA Fulton County, GA

Missouri San Francisco, CA Orange County, CA

Source: Greater Houston Partnership analysis based on U.S. Census Bureau and IRS data* Populations flows to Houston from within Texas are not included.


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Employment Ever Upward Houston continues to enjoy the fastest pace of jobgrowth among the nations major metro areas, the U.S. Bureau of Labor Statistics re-ported recently. For the 12 months ending March 12, Houstons added 82,300 jobs, a3.2 percent over the year increase. The addition of 82,300 Houston jobs was thesecond-largest number added behind that of New York, a metro area with three times

Houstons population, which added 112,500 jobs. Houstons annualized growth ismore than double the national rate. Nationally, total nonfarm employment rose 1.5percent from March 2011. Other Houston highlights included:

The private sector created 90,000 jobs in the past 12 months, a 4.2 percent annualgrowth rate.

The nonpublic education and health services supersector reported the largest em-ployment gain in the Houston area, up 23,200 (7.4 percent) from the previousMarch.

Trade, transportation, and utilities added 14,300 jobs over the year. The 2.7-percent increase was more than double the nationwide rate of 1.2 percent.

Mining and logging, in Houston primarily oil and gas, registered the fastest growthrate, up 11.7 percent or 9,900 jobs over the year.

Two industries experienced job losses of at least 1,000 from March 11 to March12government, which lost -7,700 jobs, and construction, which lost -2,400.

Houston is one of only two major metro areas, the other being Washington, D.C., that

has returned to pre-recession employment levels.

Recovery to Date, 20 Most Populous U.S. Metro Areas

MetroJobs Re-couped

% Re-couped

Still to Go* MetroJobs Re-couped

% Re-couped

Still to Go*

New York 238,200 60.7% 154,200 Detroit 76,200 15.4% 419,700

Los Angeles 103,200 18.7% 447,300 Phoenix 68,200 27.7% 177,700

Chicago 94,900 28.1% 243,200 San Francisco 52,300 30.6% 118,400

Dallas 146,100 94.1% 9,100 Riverside 20,100 12.6% 139,700

Philadelphia 41,900 29.3% 100,900 Seattle 63,200 46.0% 74,300

Houston 157,200 134.5% - Minneapolis 59,000 50.6% 57,500

Miami 65,200 26.5% 181,300 San Diego 27,100 26,200 76,200

DC 112,700 114.0% - St. Louis 19,300 23.0% 64,700

Atlanta 60,800 30.3% 139,800 Tampa 42,100 30.4% 96,300

Boston 70,400 68.6% 32,200 Baltimore 61,800 85.5% 10,500

* Additional jobs needed to reach pre-recession employment levels. Data is seasonally adjusted nonfarm payroll employment.

Source: U.S. Bureau of Labor Statistics


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Strong First Quarter for Air Passenger Traffic Through the first quarter of theyear, the Houston Airport System (HAS) handled 11.8 million passengers, a 2.5 per-cent increase from the 11.5 million handled over the same period the prior year. Thiswas strongest first quarter for HAS passenger traffic since before Houston entered therecession in 08.

Houston Airport System Activity

Q1 12 Q1 11 Percent Change

Total passengers 11,830,159 11,545,728 2.5%

Domestic passengers 9,697,570 9,416,915 3.0%

International passengers 2,132,589 2,128,813 0.2%

Landings and Takeoffs 205,821 209,065 -1.6%

Air cargo (000 lbs) 219,259 219,372 -0.1%

Source: Houston Airport System

Domestic traffic rose 3.0 percent through March, increasing from 9.4 million passen-gers in the first three months of 11 to 9.7 million during the first three months of 12.International passenger traffic grew 0.7 percent, from 2.13 million in the first quarterof 11 to 2.12 million passengers during the comparable period in 12. Growth in in-ternational traffic was dampened by the decline in traffic to Mexico. Although Mexicois not the only region contributing to slower growth in international traffic, it remainsHoustons largest international market.

Houston on the Fast Track Houston is the fastest growing of the nations fivebusiest customs districts. According to an analysis by the Greater Houston Partner-ships Research Department, traffic through the New York, Los Angeles, Houston,Detroit, and New Orleans districts bottomed out in November 09. Since then, traf-fic through Houston has grown at a compound monthly rate of 1.8 percent, sur-passing the rates of the other districts.

Customs District Traffic Since Recession Bottom

Rank Customs DistrictFor 12 months ending ($B) Compound

monthly growth

rateNov 09 Feb 121 New York City $265.6 $391.7 1.4%

2 Los Angeles $280.3 $391.4 1.2%

3 Houston/Galveston $166.1 $273.1 1.8%

4 Detroit $168.5 $247.4 1.4%

5 New Orleans $150.6 $235.9 1.6%

Source: GHP calculations based on data from WISERTrade: International Trade Database


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Trade through the Houston district totaled $20.4 billion in February 12, up 19.7percent from $17.1 billion in February 11.

Exports totaled $9.0 billion, up 11.1 percent from $8.1 billion a year ago.The top five exported commodities include mineral fuel and oil ($3.0 bil-

lion), industrial machinery ($1.5 billion), organic chemicals ($1.2 billion),plastics ($514.2 million), and electric machinery ($415.1 million).

Imports totaled $11.5 billion in February 12, up 27.4 percent from $9.0 bil-lion a year ago. The top five imported commodities include mineral fuel andoil ($7.0 billion), industrial machinery ($721.9 million), articles of iron andsteel ($772.7 million), electric machinery ($621.7 million), and organicchemicals ($311.9 million).

Patrick Jankowski andJenny Hsu contributed to this issue ofHouston:The Economy at a Glance.

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The Key Economic Indicators table is updated whenever any data change typically, 11 or so

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You may request Glanceand Indicatorsin the same email.


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Houston Economic Indicators

A Service of the Greater Houston Partnership

Most Year % Most Year

Month Recent Earlier Change Recent Earlier Chan

ENERGY

U.S. Active Rotary Rigs Mar '12 1,979 1,716 15.3 1,990 * 1,716 * 16

Spot Crude Oil Price ($/bbl, West Texas Intermediate) Mar '12 106.11 102.86 3.2 103.00 * 93.43 * 10

Spot Natural Gas ($/MMBtu, Henry Hub) Mar '12 2.13 3.90 -45.4 2.36 * 4.12 * -42

UTILITIES AND PRODUCTION

Houston Purchasing Managers Index Mar '12 59.1 59.9 -1.3 59.4 * 58.4 * 1

Nonresidential Electr ic Current Sa les (Mwh, CNP Service Area) Mar '12 3 ,760,823 3,727 ,237 0 .9 3 ,878,616 3 ,872,525 0

CONSTRUCTION

Total Building Contracts ($, Houston MSA) Mar '12 746,028,000 716,522,000 4.1 2,389,081,000 2,096,602,000 14

Nonresidential Mar '12 178,066,000 253,962,000 -29.9 810,988,000 943,725,000 -14

Residential Mar '12 567,962,000 462,560,000 22.8 1,578,093,000 1,152,877,000 36

Building Permits ($, City of Houston) Mar '12 428,086,460 274,484,095 56.0 1,178,420,214 687,460,330 71

Nonresidential Mar '12 297,869,852 179,976,438 65.5 823,846,652 457,186,489 80

New Nonresidential Mar '12 132,565,856 61,755,131 114.7 302,702,132 154,978,284 95

Nonresiden tial Addi tions/Al te ra tions/Conversions Mar '12 165,303,996 118 ,221 ,307 39.8 521 ,144,520 302 ,208 ,205 72

Residential Mar '12 130,216,608 94,507,657 37.8 354,573,562 230,273,841 54

New Residential Mar '12 108,197,400 74,348,501 45.5 301,121,302 182,565,871 64

Residential Additi ons/Al terations/Conversions Mar '12 22,019,208 20,159,156 9.2 53,452,260 47,707,970 12

Multiple Listing Service (MLS) Activity

Closings Mar '12 5,908 5,499 7.4 14,101 12,904 9

Median Sales Price - SF Detached Mar '12 161,750 150,000 7.8 150,517 * 146,563 * 2

Active Listings Mar '12 41,997 51,091 -17.8 42,090 * 50,150 * -16

EMPLOYMENT (Houston-Sugar Land-Baytown MSA)

Nonfarm Payroll Employment Mar '12 2,649,500 2,567,200 3.2 2,636,300 * 2,546,233 * 3

Goods Producing (Natural Res ources /Mining/Cons t/Mfg) Mar '12 495,200 477,800 3.6 493,600 * 473,567 * 4

Service Providing Mar '12 2,154,300 2,089,400 3.1 2,142,700 * 2,072,667 * 3

Unemployment Rate (%) - Not Seasonally Adjusted

Houston-Sugar Land-Baytown MSA Mar '12 7.2 8.4 7.4 * 8.6 *

Texas Mar '12 7.2 8.2 7.4 * 8.4 *

U.S. Mar '12 8.7 9.5 8.8 * 9.7 *

TRANSPORTATION

Port of Houston Authority Shipments (Short Tons) Mar '12 3,706,721 4,116,197 -9.9 10,672,111 10,685,715 -0

Air Passengers (Houston Airport System) Mar '12 4,307,796 3,363,656 28.1 6,839,596 6,571,606 4

Domestic Passengers Mar '12 3,540,741 2,753,033 28.6 6,156,829 5,889,450 4International Passengers Mar '12 767,055 610,623 25.6 682,767 682,156 0

Landings and Takeoffs Mar '12 72,462 75,844 -4.5 205,821 209,065 -1

Air Freight (000 lb) Mar '12 80,798 83,199 -2.9 225,317 224,903 0

Enplaned Mar '12 41,690 42,098 -1.0 116,497 111,616 4

Deplaned Mar '12 39,108 41,101 -4.8 108,820 113,287 -3

CONSUMERS

New Car and Truck Sales (Units, Houston MSA) Mar '12 25,027 22,356 11.9 77,609 62,934 23

Cars Mar '12 11,388 9,872 15.4 34,008 27,104 25

Trucks, SUVs and Commercials Mar '12 13,639 12,484 9.3 43,601 35,830 21

Total Retail Sales ($000,000, Houston MSA, NAICS Basis) 3Q11 23,568 21,370 10.3 69,992 62,681 11

Consumer Pr ice Index for All Urban Consumers ('82-'84=100)

Houston-Galveston-Brazoria CMSA Mar '12 204.291 197.224 3.6 203.338 * 196.358 * 3

United States Mar '12 229.392 223.467 2.7 227.907 * 221.666 * 2

Hotel Performance (Harris County)

Occupancy (%) 4Q11 58.5 53.0 60.0 * 55.2 *Average Room Rate ($) 4Q11 89.77 87.25 2.9 90.91 * 88.66 * 2

Revenue Per Available Room ($) 4Q11 52.49 46.23 13.5 54.60 * 49.00 * 11

POSTINGS AND FORECLOSURES

Postings (Harris County) Apr '12 2,920 4,094 -28.7 12,654 16,696 -24

Foreclosures (Harris County) Apr '12 794 934 -15.0 3,565 3,396 5

YEAR-TO-DATE

TOTAL OR YTD AVERAGE*MONTHLY DATA


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SourcesRig Count Baker Hughes IncorporatedSpot WTI, Spot Natural Gas U.S. Energy Information AgencyHouston Purchasing Managers National Association ofIndex Purchasing Management

Houston, Inc.Electricity CenterPoint EnergyBuilding Construction Contracts McGraw-Hill Construction

City of Houston Building Permits Building Permit Department, Cityof HoustonMLS Data Houston Association of RealtorsEmployment, Unemployment Texas Workforce Commission

Port Shipments Port of Houston AuthorityAviation Aviation Department, City of

HoustonCar and Truck Sales TexAuto Facts Report,

InfoNation, Inc., Sugar Land TXRetail Sales Texas Comptrollers OfficeConsumer Price Index U.S. Bureau of Labor Statistics

Hotels PKF Consulting/Hospitality AssetAdvisors InternationalPostings, Foreclosures Foreclosure Information & Listing

Service


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HOUSTON MSA NONFARM PAYROLL EMPLOYMENT (000)Change from % Change from

Mar '12 Feb '12 Mar '11 Feb '12 Mar '11 Feb '12 Mar '11

Total Nonfarm Payroll Jobs 2,649.5 2,637.0 2,567.2 12.5 82.3 0.5 3.2

Total Private 2,274.3 2,263.3 2,184.3 11.0 90.0 0.5 4.1

Goods Producing 495.2 495.9 477.8 -0.7 17.4 -0.1 3.6

Service Providing 2,154.3 2,141.1 2,089.4 13.2 64.9 0.6 3.1Private Service Providing 1,779.1 1,767.4 1,706.5 11.7 72.6 0.7 4.3

Mining and Logging 94.8 93.6 84.9 1.2 9.9 1.3 11.7

Oil & Gas Extraction 51.6 51.3 47.4 0.3 4.2 0.6 8.9

Support Activities for Mining 40.3 39.7 36.4 0.6 3.9 1.5 10.7

Construction 167.0 171.0 169.4 -4.0 -2.4 -2.3 -1.4

Manufacturing 233.4 231.3 223.5 2.1 9.9 0.9 4.4

Durable Goods Manufacturing 156.7 154.7 146.9 2.0 9.8 1.3 6.7

Nondurable Goods Manufacturing 76.7 76.6 76.6 0.1 0.1 0.1 0.1

Wholesale Trade 138.8 137.5 133.7 1.3 5.1 0.9 3.8

Retail Trade 274.7 274.2 264.5 0.5 10.2 0.2 3.9

Transportation, Warehousing and Utilities 122.9 123.0 123.9 -0.1 -1.0 -0.1 -0.8

Utilities 16.7 16.7 16.0 0.0 0.7 0.0 4.4

Air Transportation 19.7 19.7 23.0 0.0 -3.3 0.0 -14.3

Truck Transportation 22.4 22.2 21.4 0.2 1.0 0.9 4.7

Pipeline Transportation 10.7 10.7 10.4 0.0 0.3 0.0 2.9

Information 31.4 31.1 31.7 0.3 -0.3 1.0 -0.9

Telecommunications 15.6 15.7 16.0 -0.1 -0.4 -0.6 -2.5

Finance & Insurance 88.7 90.4 88.2 -1.7 0.5 -1.9 0.6

Real Estate & Rental and Leasing 48.0 48.1 48.3 -0.1 -0.3 -0.2 -0.6

Professional & Business Services 389.0 386.0 372.8 3.0 16.2 0.8 4.3

Professional, Scientific & Technical Services 188.8 187.2 180.7 1.6 8.1 0.9 4.5Legal Services 23.1 23.0 22.8 0.1 0.3 0.4 1.3

Accounting, Tax Preparation, Bookkeeping 19.1 19.6 20.2 -0.5 -1.1 -2.6 -5.4

Architectural, Engineering & Related Services 63.0 61.5 59.5 1.5 3.5 2.4 5.9 Computer Systems Design & Related Services 26.0 26.0 24.4 0.0 1.6 0.0 6.6

Admin & Support/Waste Mgt & Remediation 179.2 177.8 171.8 1.4 7.4 0.8 4.3Administrative & Support Services 169.1 167.7 163.7 1.4 5.4 0.8 3.3

Employment Services 72.7 71.9 62.1 0.8 10.6 1.1 17.1

Educational Services 44.6 44.6 43.0 0.0 1.6 0.0 3.7

Health Care & Social Assistance 291.0 290.8 269.4 0.2 21.6 0.1 8.0

Arts, Entertainment & Recreation 26.9 24.5 26.0 2.4 0.9 9.8 3.5

Accommodation & Food Services 227.2 221.3 214.0 5.9 13.2 2.7 6.2

Other Services 95.9 95.9 91.0 0.0 4.9 0.0 5.4

Government 375.2 373.7 382.9 1.5 -7.7 0.4 -2.0

Federal Government 27.3 27.3 27.8 0.0 -0.5 0.0 -1.8

State Government 73.5 73.0 74.2 0.5 -0.7 0.7 -0.9State Government Educational Services 40.1 39.8 41.1 0.3 -1.0 0.8 -2.4

Local Government 274.4 273.4 280.9 1.0 -6.5 0.4 -2.3Local Government Educational Services 194.1 193.2 198.0 0.9 -3.9 0.5 -2.0

SOURCE: Texas Workforce Commission


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Source: National Association for Purchasing Management - Houston, Inc.

Source: Texas Workforce Commission

30

35

40

45

50

55

60

65

70

Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13

PURCHASING MANAGERS INDEXHOUSTON & U.S. 2002-2012

HOUSTON U.S.

-120

-100

-80

-60

-40

-20

0

20

40

60

80

100

120

140

160

1,950

2,000

2,050

2,100

2,150

2,200

2,250

2,300

2,350

2,400

2,450

2,500

2,550

2,600

2,650

2,700


12-MONTHCHANGE(000)

NON

FARM

PAYROLLEMPLOYMENT(000)

HOUSTON MSA EMPLOYMENT2002-2012

12-MONTH CHANGE JOBS


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1,600

1,650

1,700

1,750

1,800

1,850

1,900

1,950

2,000

2,050

2,100

2,150

2,200

2,250

430

440

450

460

470

480

490

500

510

520

530

540

550


SERVICE-PROVIDING

(000)

GOODS-PRODUCING

(000)

GOODS-PRODUCING AND SERVICE-PROVIDING EMPLOYMENTHOUSTON MSA 2002-2012

GOODS-PRODUCING JOBS SERVICE-PROVIDING JOBS

0

1

2

3

4

5

6

7

8

9

10

11


PERCENTOF

LABOR

FORCE

UNEMPLOYMENT RATEHOUSTON & U.S. 2002-2012

HOUSTON U.S.


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Source:U.S. Energy Information Administration

Source: U.S. Bureau of Labor Statistics

0

4

8

12

16

20

24

28

0

20

40

60

80

100

120

140


HENRYHUBNATURALGAS($/MMBTU)

WESTTEXASINTERMEDIATE($/BBL)

SPOT MARKET ENERGY PRICES2002 - 2012

WTI MONTHLY WTI 12-MO AVG GAS MONTHLY GAS 12-MO AVG

-3%

-2%

-1%

0%

1%

2%

3%

4%

5%

6%


INFLATION: 12-MONTH CHANGE2002-2012

HOUSTON CPI-U U.S. CPI-U

Documents

Houston Economic Update - May 2012