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Greater Houston Partnership Revises 2015 Jobs Forecast

The Greater Houston Partnership has revised its 2015 economic forecast projecting lower job growth in the region.

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The decline in the region’s energy sector has been stronger than anticipated. In December, the Greater Houston Partnership estimated that the region would add 62,900 jobs in 2015, but recent reports show employment rates haven’t kept pace with those projections.

Patrick Jankowski is the group’s vice president of research. He says the energy industry continues to see layoffs.

“The problem is the first part of the year put us in a hole, and it’s going to take a couple months to dig out of that hole,” Jankowski says. “Then we’re going to start to see our net job growth.”

Jankowski says employment usually picks up in June, but Houston is still more than 7,000 jobs below December’s total. Industries including manufacturing, construction and retail have all seen losses.

But Jankowski says the economic outlook is better for the rest of the year.

“We’re done with the bulk of the layoff,” he says “There’s still going to be some layoffs, there’s still going to be a little pain out there, but we’ve endured the most of the pain that we’re going to endure.”

Both the healthcare industry and the leisure and hospitality sector have remained strong.

 

GHP Revised 2015 Jobs Forecast

 

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