Houston-The Woodlands-Sugar Land

metropolitan statistical area
The Houston-The Woodlands-Sugar
Land Metropolitan Statistical Area has
been experiencing notable job gains. The
area continues to recover from Hurricane
Harvey, which is causing a temporary
uptick in construction associated with

repairs and replacement of damaged
structures. While exploration and production activity has increased in response to
higher oil prices, corporate-level hiring
has not yet begun in earnest. Although the
Hurricane’s effects will continue to be felt

COUNTIES
Austin
Brazoria
Chambers
Fort Bend
Galveston

PROJECTED KEY INDICATORS
Economic
Indicator

Harris
Liberty
Montgomery
Waller

2017
Level

2022
Level

Annual
Growth

Five Year
Increase

Real Gross Product

$481.7 b

$589.2 b

4.11%

$107.5 b

Real Personal Income

$327.3 b

$395.0 b

3.83%

$67.7 b

Real Retail Sales

$111.6 b

$134.0 b

3.72%

$22.4 b

Population

6.9 m

7.5 m

1.67%

593,576

Employment

3.2 m

3.5 m

2.14%

354,806

40,435

45,806

2.53%

5,371

Housing Permits

POPULATION

EMPLOYMENT

2017-2022

REAL GROSS PRODUCT

2017-2022

1.47%
0.71%
United States

for years to come, growth in other areas
will mask the negative impact. On balance,
The Perryman Group’s projections call
for economic expansion over the next five
years, with momentum building through
the period.

State of
Texas

1.67%

1.55%

Houston-The
WoodlandsSugar Land MSA

United States

2017-2022 4.01% 4.11%

2.05%
State of
Texas

2.89%

2.14%
Houston-The
WoodlandsSugar Land MSA

United States

State of
Texas

Houston-The
WoodlandsSugar Land MSA

PROJECTED INDUSTRY GROWTH THROUGH 2022
Industry Sector

Employment

Real Gross
Product

Absolute
Change

Annual
Growth

Absolute
Change

Annual
Growth

168

0.73%

$0.037 b

2.54%

14,158

3.10%

$24.762 b

6.14%

723

0.91%

$2.392 b

3.29%

Construction

18,199

1.52%

$3.841 b

2.66%

Manufacturing

10,600

0.90%

$15.294 b

4.06%

Wholesale and Retail Trade

47,421

1.88%

$13.898 b

3.92%

Transportation & Warehousing

11,867

1.79%

$2.852 b

3.52%

2,300

1.36%

$2.412 b

4.81%

10,254

1.23%

$10.170 b

2.94%

215,467

2.95%

$27.900 b

4.56%

Agriculture
Mining
Utilities

Information
Finance, Insurance & Real Estate
All Services
Government
All Industries
www.perrymangroup.com

23,650

1.11%

$3.911 b

2.28%

354,806

2.14%

$107.468 b

4.11%

Growth in the Houston-The WoodlandsSugar Land area is expected to occur at a
pace faster than the state and nationwide
rates through 2022.

Employment is projected to grow by more
than 354,800 net new positions by 2022,
with expansion concentrated in the latter
years of the forecast horizon.

Real gross product is forecast to expand at
a 4.11% annual pace, resulting in a gain of
about $107.5 billion by 2022. The services
and mining sectors are expected to be
growth leaders, expanding by $27.9 billion
and $24.7 billion, respectively.

© 2018 by The Perryman Group