Posted on 05/29/2013 4:02:15 PM PDT by Hojczyk
It dominated the recession, crushed the recovery, and in a new analysis of jobs recovered since the downturn, its largest city stands apart as the most powerful job engine in the country -- by far.
The ten largest metros have recovered 98 percent of the jobs lost during the recession, on average. But Houston, the first major city to regain all the jobs lost in the downturn, has now added more than two jobs for every one it lost after the crash. That's incredible.
But the secret sauce of the city's success might be something else: history -- and an ability to learn from past mistakes.
The recession in Texas was relatively mild, partly thanks to mistakes learned by the region's real estate and energy industries, said Patrick Jankowski, an economist and vice president of research at the Greater Houston Partnership. Texas "won" the recession not only because of the jobs it's created, but also because of the jobs it's hoarded -- particularly in energy.
Houston avoided over-building problems in this recession by tightening lending and home construction in the early years of the crisis. Houston didn't really have a housing bubble in the 2000s
Houston was uniquely poised to capture the gains from a growing world, due to its proximity to Latin America and its strength in energy. Between 2008 and 2010, "more than 100 foreign-owned companies relocated, expanded or started new businesses in Houston," Jankowski wrote.
(Excerpt) Read more at theatlantic.com ...
F U B O !
I expected to find the proud Lone Star Flag on your “about page”. Wassup?
I think it’s the humidity.....
Secret sauce = illegal aliens. On every single construction site. You won’t even be considered for job unless you speak Spanish. And Houston’s billionaire Bob Perry employs thousands of illegals on his Perry Homes sites, and he also used his considerable power in the state GOP to - with H.E.B. - torpedoed the sanctuary cities bill in the TX legislature in 2011.
Funny, I never noticed that. She’s flyin now!
Houston is strong because of Oil, Rednecks, Roughnecks and Texas Attitude.
What kind of work?
An Indian company moved to Conroe to build electrical power towers.
Those illegals aren’t even a factor in the oil and gas biz.
The Woodlands:
https://www.google.com/search?q=The+Woodlands%2C++tx+employment&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a
Montgomery County:
https://www.google.com/search?q=montgomery+county%2C++tx+employment&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a
Good Luck
Thank you!
We will see how Houston does when oil and gas prices crash. The 90s were not too pleasant.
“On every single construction site. You won’t even be considered for job unless you speak Spanish. And Houston’s billionaire Bob Perry employs thousands of illegals on his Perry Homes sites, and he also used his considerable power in the state GOP to - with H.E.B. - torpedoed the sanctuary cities bill in the TX legislature in 2011.”
Pretty much right on. The problem for the rest of the country in the short term is that the Illegals are highly-skilled (regarding home construction, and believe me, I know), and they also show up for work on time (try expecting that with today’s, American, high school deadbeats). But, for the long term, they have families and may soon get legalized - so they will OWN Texas and many other states. Why Republicans WOULD EVER support that is, this is a family website, never mind.
A great place to work, as I remember. I lived in Houston for several years during the 90’s. The lack of zoning seemed crazy at first, but that probably made the city more business friendly. One of the wealthiest neighborhoods in the world was sandwiched between refineries and pipeyards to the east and and a black ghetto on the west. But that just meant that you could set up shop almost any place. The city became a basket case during the 1980’s oil glut, but they were able to diversify. Compaq computers started there in the 80’s. Houston had perhaps the best medical center in the country by the 1990’s. The there was the Space Center southwest of the city thanks to Lyndon Johnson’s finagling.
The headline is not referring to the Astros.
I lived in Houston for eight years in the 90’s and one of the best sights I ever saw was Houston in my rear view mirror for the last time. The heat, humidity, traffic and crime rate were horrendous. And that was before the Katrina thugs invaded Houston.
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