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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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