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Houston Office Vacancy rates - still a relevant economic indicator, or not? | NewsRadio 740 KTRH

Houston Office Vacancy rates - still a relevant economic indicator, or not? | NewsRadio 740 KTRH
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Houston's stake in the looming recession

Houston's stake in the looming recession
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One year after pandemic, Dallas' job market heats up again, even while some sectors are still hurting

One year after pandemic, Dallas’ job market heats up again, even while some sectors are still hurting
Federal relief efforts have helped bridge the gap, especially for those who couldn’t work from home.
In the Dallas-Plano-Irving metro area, many sectors added jobs last year, but the pandemic was brutal for restaurants. They lost nearly 50,000 jobs in 2020, and one economist said the problem will be fixed only after the coronavirus is gone.(Juan Figueroa / Staff Photographer)
Carletta Castillo had been working in the hotel industry for 21 years when the coronavirus pandemic was declared a national emergency on March 13, 2020. She was laid off the same day. ....

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Pandemic. Recession. Oil bust. How Houston weathered economic collapse under COVID-19

Pandemic. Recession. Oil bust. How Houston weathered economic collapse under COVID-19
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Abandoned tanks in Penwell in April. A sudden and devastating oil crash pounded the energy sector,which was still recovering from the deep, two-year oil bust that ended in 2016Elizabeth Conley, Houston Chronicle / Staff photographerShow MoreShow Less
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Brick and mortar retailers were particularly hurt by the pandemic.Karen Warren, Houston Chronicle / Staff photographerShow MoreShow Less
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A man walks through an almost completely empty parking lot at Franklin and La Branch Streets in March.Steve Gonzales, Houston Chronicle / Staff photographerShow MoreShow Less
Back in January, economists predicted a fairly routine 2020. The global economy was expected to grow a healthy 3.3 percent, buoyed by hopes that trade tensions between the United States and China were easing. ....

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Fact-check: Is the Texas oil and gas industry 35% of the state economy?

Fact-check: Is the Texas oil and gas industry 35% of the state economy?
PolitiFact s ruling: Mostly True
Here s why: Texas’ oil and gas sector took a tumble in 2020 when the coronavirus pandemic was compounded by a Saudi Arabia-Russia price war that further devastated the global oil market.
In May, two weeks after crude oil prices turned negative for the first time in history, Texas Railroad Commissioner Christi Craddick spoke with the Texas Tribune giving updates on how the industry was handling the downturn.
“Last year, [oil and gas] was about 35% of the state s economy . and so [because this industry] is down . it s gonna affect everything,” Craddick said. ....

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