Overall unemployment rate moved down to 4.1% with the biggest shift in Transportation & Utilities, which gained 12,200 roles, based on the most recently available information published in December 2022.
Total employment in the Houston-The Woodlands-Sugar Land, TX market rose by 25,006 jobs in October and the unemployment rate decreased compared to the prior month by 10 bps to 4.1%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Houston-The Woodlands-Sugar Land, TX unemployment rate is 70 bps above the national rate which is a negative sign.
- Unemployment in the market is 130 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.0% . Key sectors include:
- Transportation & Utilities: 676,900; +12,200
- Business Services: 546,400; +6,600
- Education & Healthcare: 440,800; +3,100
- Government: 439,300; +11,300
- Restaurants & Hotels: 359,100; -600
- Construction, Mining: 308,800; -1,200
- Manufacturing: 228,200; +300
- Financial Services: 177,000; +1,200
- Other Jobs: 112,500; -700
- IT & Development: 32,500; +200
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.