The December jobs report from the Bureau of Economic Analysis once again highlights the...
Full-year data for the state and the Houston-The Woodlands-Sugar Land metro area will be released later this month. Still, the December jobs report hints that the Houston employment situation will remain strong, even if the national labor market picks up some slack.
Meanwhile, recent high-profile layoffs among U.S. tech giants such as Amazon have left the Houston area largely unscathed. The region has yet to develop into the technology center that city leaders would like, despite efforts of incubators such as Greentown Labs, Station Houston and TMC3 that have made the city a technology leader in the state.
Gus Faucher, senior economist at Pittsburgh-based PNC Bank, says that although the December jobs figures show signs that the Fed's measures to tame rising prices are having an effect, they are unlikely to dissuade the central bankers from raising interest rates again at their meeting at the end of the month.
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