Houston, Texas’ unemployment rate fell to 3.8 percent from 4.3 percent in October. A total of 4,000 new nonagricultural jobs were created in the month, with health services and government employers recruiting the largest number of new employees.
According these statistics put out by the Texas Workforce Commission, the local area continues to fair better than the rest of the state, which has an average of 4.1 percent. Even better news is the fact that the Houston unemployment rate, when compared to that of the same time last year, continue to show improvement.
With unemployment down, a fewer number of individual’s will be competing for newly created positions. This means that those who are still in search of Houston jobs have a greater chance of finding work. If the unemployment rate stays steady or continues to decline, then the new year maybe the time for those who desire a change in cubicle scenery to consider searching for new positions.
With the creation of a new $75 million office project planned for western Houston, there should soon be new businesses in the area. The Carlyle Group, a Washington, D.C based private equity firm, will be partnering up with a local Texas real estate firm to create a 6 story commercial complex.
Construction of the 150,000 square foot office building and garage is planned to begin in January. Carlyle plans to begin leasing the spaces to new and existing businesses by December of next year.
In regards to why the firm picked Houston for the location of their new office complex, Carlyle Principal Tommy Ellis said, in a statement, that the city “has strong economic fundamentals led by employment growth and good supply/demand dynamics.” He went on to say that Carlyle plans to add to its investments in the area, likely filling more jobs in Houston.
New business real estate will likely bring new Houston job opportunities and potentially aid in furthering the decline in the city’s unemployment rate.
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