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23.09.2015
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. 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.


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.





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