Houston is on track to create 75,000 new jobs in 2025, with total employment surpassing 3.5 million, according to the Greater Houston Partnership's latest economic outlook.
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The Greater Houston Partnership's 2024 Houston Region Economic Outlook projects 75,000 jobs added in Houston by 2025, establishing a record with over 3.5 million employment by year-end.
Significant areas of growth are government, hospitality, construction, professional and technical services, and health care. Houston has generated more than 270,000 jobs over the last three years. Employment is predicted to grow consistently until 2026.
Patrick Jankowski, senior vice president and chief economist of GHP, emphasized elements bolstering the city's growth at the annual Houston Region Economic Outlook luncheon on December 12. Elements include a rising U.S. economy, lowering interest rates, and improving consumer confidence. Retiring early next year, Jankowski said, "If the U.S. economy grows, Houston will grow."
Although he acknowledged the likelihood of a recession in the future, he said, "I don't believe the U.S. economy will experience a recession in 2025 or for several years."
With 24 Fortune 500 businesses housed in Houston, up from 13 in 1981, the city's appeal as a corporate center keeps growing. Jankowski attributed this tendency to Houston's economic climate, which attracts both domestic and foreign businesses equally.
Apart from the information industry, every sector is predicted to rise in 2025, therefore supporting Houston's role as a main engine of economic development.
