HOUSTON (Dec. 12, 2024) — The Greater Houston Partnership has released its forecast for job growth in the Metro Houston area, forecasting the creation of 71,200 jobs in 2025.  The sectors expected to experience the greatest gains, in order, are:  Health care Construction Professional and technical services Government Restaurants and bars Click to expand Houston is projected to finish 2025 with over 3.5 million payroll jobs, setting a record for the region. Several factors support this growth, including the ongoing expansion of the U.S. economy, the continued decline in interest rates, increasing consumer confidence, and a steady influx of domestic and foreign companies establishing operations in Houston.  Additionally, a deep backlog of construction projects and local income and population growth contribute to the positive outlook for job creation. “Over the past two decades, Houston has experienced several recessions, devastating weather events and the COVID-19 pandemic, but despite these events, the Houston region’s economy has remained competitive,” Partnership Chief Economist Patrick Jankowski said. “Houston’s GDP has grown 70 percent after adjusting for inflation, and that growth is proof that our resilient economy will encourage continued growth for years to come.” According to the forecast, every sector except information is expected to experience job growth next year. The information sector has struggled for years, losing jobs in 12 out of the last 20 years, largely due to technological advancements and shifting consumer preferences.  The Houston region created 60,000 jobs in the 12 months ending October 2024. The region should end the year with 58,000 jobs. The national outlook is also looking positive. The probability of a recession over the next 12 months sits at 26 percent, according to The Wall Street Journal’s October survey of prominent business economists.  A sector-by-sector breakdown of the jobs forecast and the factors impacting each industry can be found in the full report. ### Media Contact    Brina Morales                                                 Director, Communications     bmorales@houston.org      

HOUSTON (May 2, 2024)— All metrics indicate Houston’s global economy is positioned for continued success, according to the Greater Houston Partnership’s 2024 Global Houston report. The report, which provides an analysis of the global economy and its tie to the Houston region, illustrates how Houston’s international activity in 2023 continued to set records: The Houston-Galveston Customs District continues to rank first in the country in tonnage handled (exports and imports) with over 404.7 million metric tons of goods and commodities, an increase of 6.4 percent from 2022. The Houston-Galveston Customs District ranked first in total value with $344.5 billion for the second consecutive year. Houston led the U.S. in exports, shipping more than $175.5 billion in goods and commodities. Foreign direct investment (FDI) remains strong, with an 18% increase as 52 foreign-owned companies with plans to relocate, expand or start operations, surpassing the 44 projects announced in 2022. The Houston Airport System handled 12.6 million international passengers, finally surpassing pre-COVID levels and setting a record. For the second consecutive year, international migration accounted for the largest share (37.6%) of the region’s population growth. The region attracted 52,500 migrants in 2023, an increase of more than 10% compared to 2022. According to the report, trade disputes, supply chain disruptions and geopolitical tensions remain as global challenges in 2024. Fortunately, foreign governments recognize Houston’s pivotal role in global trade and foreign investment. "While economists expect a slightly weaker year ahead, Houston's robust ties to global markets and the ongoing growth of our major trading partners will continue to support our economy," said Partnership Chief Economist and Senior Vice President of Research Patrick Jankowski. "We remain confident in the strength and resilience of Houston's global economy." The Global Houston report also provides additional statistics and information about Houston’s international business ties and ranks the region’s top 20 trade partners. Top 10 Houston trade partners and the value of trade in 2023: China -- $31.8 billion, down from $32.1 billion in 2022. Mexico -- $28.7 billion, down from $32.0 billion in 2022. Netherlands -- $26.5 billion, up from $19 billion in 2022. South Korea -- $22.9 billion, down from $24.7 billion in 2022. Brazil -- $15.6 billion, down from $20.3 billion in 2022. Germany -- $15.1 billion, up from $15.0 billion in 2022. Japan -- $13.1 billion, down from $14.2 billion in 2022. United Kingdom -- $13.1 billion, down from $15.9 billion in 2022. India -- $13.0 billion, down from $15.5 billion in 2022. Singapore -- $11.4 billion, down from $14.0 billion in 2022.