The Houston-Sugar Land-Baytown metropolitan area added 10,300 nonagricultural jobs in February — the largest gain since November 2008, theTexas Workforce Commission reported Thursday.
The unemployment rate fell slightly in February to 8.5 percent from 8.8 percent a month earlier. However, even with the added jobs, the region’s workforce is down 3.1 percent, or 80,000 jobs, for the year.
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If Houston were a nation, its economy would be the 25th largest in the world, just behind Norway, according to a new report by Texas Comptroller Susan Combs.
Following the effects of Hurricane Ike in 2008, the Gulf Coast region has shown resilience in the area economy and even surpassed the rest of Texas for quarterly sales when the state entered a national recession, according to the report.
The Gulf Coast region’s economic outlook is positive, with a diverse industry base providing support for the state and national economies.
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Houston is the fourth top city in the United States where the recession seems to be easing, according to Forbes magazine.
Houston, along with nine other metropolitan areas, are best surviving the downturn in part because they specialize in industries that are relatively insulated from economic volatility, Forbes said.
If one state is a poster child for economic recovery, said Forbes, it’s Texas, which is home to four of the 10 cities on the list. Read more HERE.
