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Economics group projects 75,500 jobs to come toHouston in 2022
The Greater Houston Partnership projects around 75,500 new jobs to be added in the Greater Houston area in 2022. Jobprojections
BY SHAWN ARRAJJ & GEORGE WIEBE
While inflation and worker short- ages continue to stunt a rebound of the Houston economy, forecasters with the Greater Houston Partnership project the area will still add 75,500 more jobs to the economy in 2022, including job growth in every sector. These projections were announced Dec. 10 alongside an update on how the area’s recovery trended in 2021, the second year of the coronavirus pandemic. As of October, the Houston area had recouped 269,000 jobs, or roughly 75% of the 361,400 jobs lost in the early stages of the pandemic, according to the report. The greatest job gains in 2022 are projected to be seen in the administra- tive services, government, health care, professional services, and restaurants and bars industries, which will add a combined 40,400 jobs. “Several factors will drive Hous- ton’s growth in [2022]: a strong U.S. economy, expanding global trade, energy consumption returning to pre-crisis levels, pent-up consumer demand, local population growth and the ongoing housing boom,” officials wrote in the report. After cooling off somewhat in October, the housing boom in Houston picked up again to close out 2021 and is projected to remain hot into 2022, according to the Houston Association of Realtors. Single-family home sales increased 3.9% in November 2021 compared to last November with 8,320 houses sold, according to HAR. Total money spent on housing showed one of the largest year-to-date changes, increasing 20.6%. Total active listings fell 13.3% compared to Novem- ber 2020, according to the report. Average and median home prices climbed after a market dip in October, although average prices still fell below their peak this last summer. With a 5.6% change since last November, total property sales totaled 10,216 for the previous month. “We remain on track for a record 2021, and the Greater Houston Partner- ship sees positive conditions for local employment going into 2022,” HAR Chair Richard Miranda said.
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Administrative services: 9,000
Professional services: 8,700
Health care: 8,400
Restaurants and bars: 7,200
Government: 7,100
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Transportation: 6,500
Manufacturing: 5,000
Energy: 4,000
Wholesale trade: 3,000
Construction: 2,700
Other: 2,300
Finance: 2,100
Educational services: 2,000
Retail trade: 2,000
Real estate: 2,000
Arts, entertainment: 1,600
Hotels: 1,200
Information: 700
Houston is projected to add 75,500 jobs in 2022, which would bring it closer to pre-pandemic job totals. Pandemic rebound
269,000 Jobs recovered as of October 2021
Estimated pandemic-related job losses in Houston:
361,400
Jobs left to recover:
92,400
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SOURCE: GREATER HOUSTON PARTNERSHIP/ COMMUNITY IMPACT NEWSPAPER
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TOMBALL - MAGNOLIA EDITION • JANUARY 2022
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