Friday, January 13, 2012

Dear Jobseekers

The national economy may still be lagging, but the good news is that there are always exceptions.

18 U.S. metros have seen wage growth over the past year, with Houston's 2.2% increase leading the pack. In fact, with an index value of 108.3 (compared to wages in 2006, the baseline figure), salaries in Houston have grown more than in any other city over the past half-decade.

In related news, national financial magazine MainStreet has listed Houston as a city "poised for greatness" in 2012. Below is their justification, complete with a fantastic metaphor for the Houston-Austin rivalry:
Throughout the economic crisis, Houston has been the buttoned-down older brother to Austin's hippie slacker.

While college-boy Austin coasts by on education and arts, Houston shrugs off the cool kids, goes to work every day with its buddies in the energy industry and does what it can to keep unemployment below 8%. Unlike Austin, though, Houston doesn't have to drop its home prices to draw new blood.

"The bloom's not off the yellow rose of Texas," Trulia chief economist Jed Kolko says. "Texas isn't hung over from the housing boom like the other big states of the South and West, so there's little to hold back growth."

Home prices in Houston have remained level since 2010 and are among the few in America that have risen since 2008. There's economic life to the city that's only improving as the year goes on.
Fellow seniors, consider finding a job outside the Tri-State area/D.C. next year!