Houston’s prospects have been in question ever since the drop in oil prices sent a shudder through the energy industry. The city’s been known for having a large concentration of energy professionals and companies, but in spite of the hit to one of its major economies, things are still trending positively for Houston. In a recent survey by the Manpower Group, Houston’s employers expect the employment outlook for the third quarter of this year to be a positive 22%, even higher than that of New York City or San Francisco (17% and 21% respectively).
The notable energy industry in Houston has always claimed the brightest spotlight out of any other economic sector, but it is far from being the only major activity in Bayou City. Houston’s strong and burgeoning healthcare sector has also been a major driver for the city. To drive even further technological innovation and business opportunities, there’s the Texas Medical Center’s new collaborative space and biotech startup accelerator TMCx, one of many different entrepreneurship clusters that have grown in recent years.
Overall, small business owners are optimistic about the future. Other strong industries are still looking to hire in Houston, including the financial services, transportation, and utilities sectors. Millennials are responding to the opportunities by forgoing traditionally popular destinations like New York and San Francisco for Houston. The Bayou City’s low living costs combined with its strong employment opportunities are major reasons young professionals are becoming Houstonians.
Like any major metropolitan, Houston’s industry has always been a mix of various strongholds. For obvious reasons, the energy sector has historically taken up a great deal of the city’s image, which makes the oil price changes appear much more devastating to the city than it actually is. Houston’s major assets in different industries should keep the city going strong while developing towards its new future as the center for yet another major world-changing power driver.
