Houston extended its jobs recovery through November, and leading economic indicators suggest further recovery over the next several months. The unemployment rate fell as the area labor force approached prepandemic levels, and the Houston Purchasing Managers Index logged an improvement in intermediate goods inventories for the first time since 2020. However, COVID data have taken a turn for the worse as the omicron variant drives up hospitalizations and absenteeism. While the start of the year is clouded by another COVID surge, the outlook for Houston remains healthy.
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Houston Economic Indicators January 2022 via Dallas Fed
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