Houston has historically been able to run counter to national recessionary environments, experts say.
HOUSTON—Notable job gains occurred in professional and technical services, healthcare, social assistance, and financial activities and the number of unemployed persons was largely unchanged at 6.1 million, the US Bureau of Labor Statistics reported on Friday. Total nonfarm payroll employment rose by 164,000 in July and the unemployment rate was unchanged at 3.7%.
“Solid job growth in the professional and technical services jobs as well as the financial sector bodes well for the office market, which has shadowed the slow and steady growth of the economy,” Matt Dolly, Transwestern director of research, tells GlobeSt.com. “In addition, the continued strong job growth in the healthcare industry presents an opportunity for office building owners to convert all or part of their assets to support the growing medical office sector.”
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
