Page 18 - NBIZ October 2021

found that cost of living in Houston is 4.8 percent below Will ’22 be any better? The answer is forthcoming. On
the national average. It also shows that it’s twice as expen- December 1, the Partnership will host its Houston Region Eco-
sive to live in New York or San Francisco than Houston. nomic Outlook event and address the issues of energy, health
care, construction, finance, employment, and real estate.
COST OF LIVING COMPARISON, The event, held at the Royal Sonesta, begins at 10 a.m.
20 MOST POPULOUS METROS Experts from the above-mentioned sectors will share their
insights into Houston’s economy in a panel discussion
moderated by KHOU-11 anchor Shern-Min Chow. The
panelists and their areas of expertise:
• Energy - Eric Mullins, Chairman and Co-CEO, Lime
Rock Resources
• Healthcare - David L. Callender, President and
CEO, Memorial Hermann Health System
• Small Business - Alex López Negrete, President
and CEO, Lopez Negrete Communications
• Real Estate/Construction - Daniel G. Bellow,
Presi dent, Houston, JLL
• Banking/Finance - Julie Sudduth, Regional
Presi dent, Houston, PNC
The luncheon portion of the event convenes at noon.
Patrick Jankowski, the Partnership’s Senior Vice Pres ident
of Research, will present the Partnership’s em ployment
forecast for ’22.
To register for the event, go to the Events section of the
Partnership’s webpage, www.houston.org. FIRMLY ROOTED IN TEXAS SINCE 1999

EMPLOYMENT UPDATE TAILORED PARTNERSHIPS WITH CUSTOMIZED SERVICE VALUE
Historically, Houston has compared favorably against Metro Houston added 4,800 jobs in July, according to
other metros, primarily due to relatively affordable housing. the Texas Workforce Commission (TWC). That was some-
But the gap between Houston and other metros has nar- what weaker than expected. In a healthy econ omy, Houston
rowed in recent years as local housing costs have gone up. would add 6,000 to 10,000 jobs in Aug ust. The shortfall
this year is due to the surge in the Delta variant and its
COST OF LIVING INDEX, HOUSTON ADVANTAGE impact on the leisure and hospitality sector (arts, entertain-
ment, hotels, restaurants, and bars) which shed 4,900 jobs
in Aug ust.
The losses in public education were also larger than expect-
ed. The sector typically sheds 3,000 to 4,000 jobs in August.
This year, it shed 6,600, presumably the result of educators
deciding not to return to campus during the pandemic.
On the bright side, three sectors that have struggled Instead of globalization and assimilation, United Protective offers a family-owned Texas brand with successful
since prior to the pandemic added jobs in August—energy
(1,400 jobs), construction (2,100), and manu facturing partnerships. We deliver the highest levels of industry performance and tailored security programs identifying
(1,500). As a group, they remain 64,800 jobs below February your facility needs with local branch support. Our vision is for long-term partnerships, with excellent cus tomer
’20 employment levels. service, treating you as more than just another number on a revenue sheet.
Two other bright spots, professional and business services
SAVE THE DATE added 5,500 jobs, another sign Houston’s services sector con-
2021 proved to be another challenging year for Houston. tinues to recover. Educational services added 3,000 jobs as
COVID-19 infections peaked in January, then trended down students and teachers at private schools returned to campus.
as more Houstonians received the vaccine, only to surge TWC revised employment data for July, indicated the
again in late summer as the Delta variant spread and vac- region created 200 jobs that month. While a small gain, it’s 800-525-6700
cine holdouts became infected overwhelming our hospitals notable since the region typically losses 15,000 to 20,000 united-protective.com
and forcing businesses to delay returning to the office. jobs in the month, the losses typic ally occurring in pub lic
The region has struggled to recoup jobs lost early education. TWC revised several sec tors upward, the great est
in the pandemic. The overbuilt office and industrial changes occurring in ed u cation and health ser vices (+3,900
markets weighed on construction while shareholder jobs), government (+2,500), and other services (+2,000),
pressures, lack of access to capital, and tepid demand while revising down ward manu facturing (-1,400) and
slowed the recovery in the oil patch. leisure and hospitality (-700).
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18 NBIZ ■ October 2021 DALLAS HOUSTON SAN AUSTIN FORT OKLAHOMA FRISCO
ANTONIO WORTH CITY