The 20 markets losing the most jobs in the past 20-months are shown in the following table. The Arab Oil Embargo in 1973 quadrupled oil prices in just three months, sparking a drilling boom that at one point accounted for half of all jobs in Houston's export sectors. Riverside -- they merely dipped about 2 percent in Houston.Hitch a RideThe Great Recession was worse than every post-war recession in just about any metric you pick.
Criticism over how the University of Missouri handled a series of racist incidents on campus this fall has claimed the jobs of two top officials: President Tim Wolfe and Chancellor R.
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. Houston was uniquely poised to capture the gains from a growing world, due to its proximity to Latin America and its strength in energy. And these are good jobs with more than not having pay levels greater than the national median.
Just two markets having a million or more jobs are included in this list: Houston and Dallas. Houston's energy sector is remarkably old -- the average age is over 50 -- and companies were nervous about laying off too many veteran workers before they had time to pass their skills down to the younger generation.
Between 2008 and 2010, "more than 100 foreign-owned companies relocated, expanded or started new businesses in Houston," Jankowski wrote.While moderation protected the city during the 2000s, an openness to overseas (or over-the-boarder) business boosted job creation at a time that domestic demand was lagging badly.
Houston's energy demographics "helped to moderate energy industry job losses," leading to fewer job losses overall.The 1980s also taught Houston a lesson about real estate.
Although human mistakes can muck up the blessings of topography and geography in Houston (and they have), the city's long memory helped it avoid the same mistakes of over-building and over-firing that plagued other cities and states.
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