Is Texas' economy getting worse? (Houston, Dallas: 2013, unemployment rate, construction)

[thatboybigbFL]

I have been researching Houston and its strong economy, because it intrigues me how Houston is the wealthiest city in America. I was explaining to someone in a chat room online that I wanted to move to Texas, and this person I was chatting with was from Texas. This person started saying something about how the new oil rigs and gas people who are moving to Texas are somehow making everything more expensive and that this has never happened before???? It didn't make sense to me. I thought if more oil rigs were being made, then that would mean more money and a better economy. Was this person uneducated??? Somebody please explain.....

[apm193]

Even if it were true why would it mean that economy is getting worse? Look at Williston, ND. Everything is more expensive there but their economy has never been better.

That being said i think the main reason that the cost of living in Texas has increased is because of inflation. Not overwhelming demand for housing/food etc.

[testmo]

inflation plus lots of people are moving here. most of them are middle class and poor though. the only thing in the future for houston is a strong economy and a larger disparity of wealth.

there is so much land here and such a big city there will always be areas that are affordable though. those people will just have longer and longer commutes (see: NYC)

[desertsun41]

Something is seriously wrong here. Word is out all over that Texas is booming, jobs are growing on trees. I'm sorry but I just don't see it. There are several very current posts on this forum right now by people who can't find work. We have people walk in almost daily who moved here from other areas of the country looking for work because they heard there was work here. They all say where they came from there was none.

I don't feel I'm off much but from my eyes, retail jobs which are traditionally very low pay are doing ok, not booming. Residential construction is near dead. But in my area I can drive up and down 529 and every one of those O&G companies have signs outside begging for Engineers, Machinists and Welders. Many are offering very very large sign on bonuses. One said $2000 hiring bonus for Engineers.

[TXRyan23]

I've been offered at least 6 jobs in the last two weeks alone. Two were pretty decent positions with Haliburton and Montgomery County.

I think the economy is doing pretty good right now. The only large Texas metros that currently has an unemployment rate over 6% right now I believe is Dallas at 6.2% and El Paso at 8.8%.

[desertsun41]

Originally Posted by TXRyan23

I've been offered at least 6 jobs in the last two weeks alone. Two were pretty decent positions with Haliburton and Montgomery County.

I think the economy is doing pretty good right now. The only large Texas metros that currently has an unemployment rate over 6% right now I believe is Dallas at 6.2% and El Paso at 8.8%.

They are all false numbers. The true unbiased non govt unemployment rate is over 20%. Despite that issue, yea we are doing better then most or all of Texas and from what I'm hearing from others, way better then the rest of the nation except for Washington DC and it's commutable suburbs which are swimming in a rich economy.

Seems like people are working here but struggling on scab wages.

[johnsmith]

HP lay off people at houston, economy at houston is not good at all.

[TXRyan23]

Originally Posted by johnsmith

HP lay off people at houston, economy at houston is not good at all.

Contact Manpower temp services, they're always contacting me for positions with HP in Tomball.

[elnina]

Originally Posted by desertsun41

They are all false numbers. The true unbiased non govt unemployment rate is over 20%.

Interesting. Is there any supporting analysis for this unbiased statement?

[Seeker5in1]

Originally Posted by elnina

Interesting. Is there any supporting analysis for this unbiased statement?

Here’s the real unemployment rate