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Bayou Business Download: The Houston Jobs Outlook for 2021

Published Dec 10, 2020 by A.J. Mistretta


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In this edition of Bayou Business Download we discuss the jobs picture for Houston in the year ahead. The region continues to do battle with COVID-19 while simultaneously working to regain lost jobs and business. We look at how the vaccines currently awaiting approval could change the dynamic in 2021 with Partnership Senior Vice President of Research Patrick Jankowski.

In this episode we discuss:

  • What factors will contribute to job growth and what needs to happen for that growth to materialize. 
  • How job growth in 2021 will differ from recent years. 
  • Which industries are likely to post the most job gains in 2021 and which ones are likely to see continued losses.
  • What will help Houston trend toward the higher end of job growth in the year ahead vs. the lower end. 
  • The most surprising parts of this year's analysis. 

Read the Partnership's complete 2021 Employment Forecast and get the latest monthly jobs figures for the region. 

 

Bayou Business Download is presented by: 

pnc

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Texas Lawmakers Prioritize Economic Growth with New Committees

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Every Texas legislative session brings something new: bold policies, fresh faces on the chamber floor, or, in this case, a new focus on making the Texas economy bigger and better. This year, the Texas House and Senate have restructured their standing committees, creating stand-alone panels to emphasize economic development and other key drivers of the state’s economy. In the Texas Senate, returning Senator Phil King will chair the newly formed Committee on Economic Development. Previously, the committee was a policy-combination focusing on Natural Resources and Economic Development. King, who previously served as Vice-Chair for the Senate Committee on Business & Commerce, said he is excited to take on the leadership position in the upper chamber. “I am honored that Lt. Gov. Patrick has entrusted me to lead the Economic Development Committee in Texas, which has the eighth largest economy in the world,” Senator King said in a statement to the Partnership. “We will use this session to discuss policy solutions that can continue to drive our state's economic growth and prosperity over the next two years and beyond. I look forward to hearing from business leaders and local officials from across the state on how we can build upon the Texas Miracle in their communities.” The Texas House created the Committee on Trade, Workforce, and Economic Development. Under first-term Speaker Dustin Burrows, the House will have a committee focused on the workforce and expanding the talent pipeline for the first time. Committee assignments for the Texas House have yet to be released.  Burrows told the Partnership he is committed to seeing Texas build a bigger and better economic engine for future generations.  "The Texas House remains focused on delivering legislative solutions that will strengthen our state's mighty economy and provide more economic opportunities for hardworking Texans," said Speaker Dustin Burrows. "This session, the House's new Committee on Trade, Workforce, and Economic Development will take a comprehensive approach to ensuring businesses have the freedom and tools to thrive in our state, with a newly created subcommittee concentrating on policies to bolster the Texas workforce. The House will also prioritize support for small businesses through legislation that aims to unleash the power of Texas entrepreneurship in communities across the state by cutting taxes and reforming the regulatory process." It’s too soon to say which bills will go to these committees. For now, a review of the interim reports from the previous committees points to support of key policy priorities for the Partnership: Early Childhood Education: the House and Senate both recognized a statewide need for expanding programs that support families and young children in education/developmental programs The successful implementation of the Lone Star Workforce of the Future Fund [HB 1755 - 89(R)] is compelling lawmakers to invest further in innovation and growth for apprenticeship and training programs. Expanding the available workforce talent pool will remain a priority for the 89th Texas Legislature. Click below to read the full interim reports from the following committees: Senate Committee on Natural Resources and Economic Development House Committee on International Relations and Economic Development To learn more about the Partnership's Legislative Priorities, click here. For more updates and alerts on the Texas Legislature, click here to sign up for our weekly newsletter.
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