Annual Job Growth For Greater Houston Slows To 1.1 Percent

Greater Houston is now tied for last place in job creation among the nation's 12 largest metro areas, according to the latest data from the U.S. Labor Department. The Houston region added jobs at a rate of 1.1 percent over the 12 months ending in October. That puts it alongside Chicago and Philadelphia at the bottom of the list.

"Both of those areas are having problems with their manufacturing sectors, which is the biggest problem in Houston right now as well," says Cheryl Abbot, a regional economist in the Dallas office of the Bureau of Labor Statistics.

Employment in Houston's manufacturing sector has fallen by 6.4 percent over the past year, chiefly due to falling orders from the oil and gas industry. The region also posted net job losses in both the mining and financial sectors.

"But you are still having growth in a number of areas, like leisure and hospitality," Abbot says. "That's up at a pretty astounding 7.4 percent rate over the year. That compares to a U.S. increase of 3 percent."

Greater Houston also performed poorly in terms of absolute job creation. The region added 33,100 jobs year-over-year, barely edging out last-place Philadelphia.