HOUSTON, TX (Covering Katy News) - Excluding seasonal jobs, employment in the Houston region fell by 13,500 jobs in April, primarily due to the Federal Reserve raising interest rates.
"We've had ten interest rate increases over the last 13 months, so it's not terribly surprising that the cracks are starting to show, said Parker Harvey, Workforce Solutions' principal economist.
Construction weighed heavily on April hiring, posting a massive decline of 8,100 jobs.
The latest numbers reverse a 25-month trend of consecutive regional job gains.
Factoring seasonal jobs into the mix, Houston gained 300 positions in April.
There were solid hiring numbers in the Professional and Business Services and Leisure and Hospitality sectors. They were responsible for nearly three of every four jobs added last month.
Leisure and Hospitality, staffing up ahead of summer, added 5,300 workers – the third largest increase on record for the month and well above the long-term average.
"After bearing the brunt of the pandemic's disruption in 2020, this sector has settled back into its normal pattern of strong seasonal growth over the past two springs."
Professional and Business Services was the second largest contributor to employment growth last month, up 2,200 jobs. Combined with an upward revision to March, the sector has added 7,500 workers since February.
Unemployment in the Houston area declined nearly half a point to 4.0 percent in April, on a not seasonally adjusted basis, while the seasonally adjusted unemployment rate for March rose slightly to 4.3 percent.
Additional labor market information, including the detailed March report, can be found online at www.wrksolutions.com/localstats. The Texas Workforce Commission will release May employment data on June 16, 2023.