Truth is that the city is well positioned to add 30,000 to 40,000 jobs in 2003 although their creations are not a shoo-in, he tells GlobeSt.com. He expects Houston will see renewed growth in the third and fourth quarters and be in good shape again on the job front by next year.
"To figure out where Houston's economy is going, keep your eye on three things," says Kollaer, "the national economy, energy prices, and the strength of the dollar against foreign currencies. All three are working against Houston at the moment."
Still, Houston came in seventh in a November 2000 to November 2001 polling in 33 metros with populations of more than 1.5 million. "Three of the top seven are in Texas and three are in Florida....The US in this period saw employment decline 0.7%, or more than 1.1 million jobs," he said at a recent forecast breakfast sponsored by Grubb & Ellis Co.'s Houston office. Dallas-Fort Worth boosted its job count by 1.8%, San Antonio, 1.7% and Houston-Galveston-Brazoria, 1.5%.
Houston added 15,100 jobs in the past year in the service sectors, education and retail industries, according to Kollaer. More than half of Houston's jobs come from a diversified mix while 32% are upstream energy positions and 16% related to downstream energy.
Despite the quasi-rosy picture, Houston isn't home free. There are challenges, says Kollaer, particularly in the arenas of clean air, mobility, quality of life, image and recruiting and infrastructure.
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