Are you conducting a round of layoffs at your organization? Do you need to provide outplacement support to your exiting employees so that they can find new jobs and positions as soon as possible?
Houston, Texas is a large and diverse city with an expansive economy. With its population of 2.3 million people, it is the fourth largest city in the United States. The demographics of Houston are significantly different from most American cities due to its substantial immigrant population. As of 2019, approximately 30% of Houston’s population was foreign-born, making it one of the most diverse cities in the country.
The majority (44%) of Houston’s residents are Hispanic. This ethnic group makes up more than half of those between the ages of 0 and 18, with African Americans (18%) and non-Hispanic whites (15%) coming next in line. In recent years there has been growth among Asian populations as well, rising from 6.3% in 2000 to 11% in 2019.
Houston has a strong and increasingly diverse economy that includes several major industries. Oil and gas, users of corporate outplacement services for employees impacted by layoffs, are by far the most important economic sectors, as Houston is home to some of the world’s largest energy companies. Other key industrial sectors include finance, health care, manufacturing, aeronautics/aerospace, retail trade, and technology. In recent years there has been significant investment into developing Houston’s tech sector with numerous venture capital funds investing in the city’s startups.
The median household income for Houston is $58,000 per year, with more than 80% of households earning between $25,000 and $125,000. The poverty rate in the city is slightly above average at 17%.
Houston, Texas is home to many major employers in a variety of industries – many of whom are proponents of outplacement services support for employees affected by mass layoffs. Some of the largest employers include ExxonMobil, United Airlines, Memorial Hermann Healthcare System, The University of Texas MD Anderson Cancer Center, Methodist Hospital System, Shell Oil Company and HCA Houston Healthcare. Other notable employers in the area include Chevron Phillips Chemical Company LP; Halliburton; KBR Inc.; Sysco Corporation; Enterprise Products Partners LP; ConocoPhillips; CVS Health Corporation; AIG Companies; and Schlumberger Limited.
Additionally, there are several smaller but still significant employers that contribute significantly to Houston’s economy including Waste Management Inc., BASF Corporation, BP plc and Anadarko Petroleum Corporation. Each of these companies has a long history of providing jobs and economic benefits to the state of Texas.
Houston is also home to several major universities, like Rice University and the University of Houston, that employ faculty, staff and administrative personnel. These institutions often partner with local businesses in order to provide internships or research opportunities for their students. These institutions also frequently provide one-off outplacement services during terminations or separations. Additionally, many of these universities have extensive medical centers that are staffed by healthcare professionals who can help serve the area’s growing population.
Finally, Houston is also a hub for several international companies like Halliburton and Baker Hughes that regularly hire employees from all over the world. Each of these employers offer an invaluable opportunity for individuals seeking employment in Houston and contribute significantly to the city’s economy.
Overall, Houston has experienced significant growth in recent years and its population and economy are expected to continue to develop rapidly in the near future. With its diverse demographics and robust economic sectors, it’s no surprise that Houston is one of the fastest-growing cities in the United States.