Houston Economic Indicators November 2014 via Dallas Fed

Employment increased at an annualized rate of 6.4 percent in September after growing a revised 3.8 percent in August and 5.8 percent in July. Government grew the fastest, adding 4,800 jobs as public education employment ticked up in September. Construction and mining was the second-fastest category, adding 3,100 jobs. No category lost jobs in September. The Houston-area unemployment rate fell three-tenths of a percent to 5.0 in September. The rate was 5.2 percent in Texas and 5.9 percent in the U.S.

The Houston Business-Cycle Index advanced at a blistering 10.4 percent in September after rising a revised 5.3 percent and 8.8 percent in August and July. Job growth was broad-based across industries, demonstrating particular strength in energy, construction and public education. With energy prices still at healthy levels for Houston industries, the construction boom underway for petrochemicals and a tailwind coming from the U.S. economy, the Houston outlook remains positive.

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