Despite the Biden administration paying people really good money not to work, unemployment numbers continue to decline.
However, with the release of the new jobless claims, a half million more new people still had to file for unemployment.
Here in Houston, the unemployment rate for March was at 8%, compared to 5.5% in 2020.
Economist Ray Perryman, President of the Perryman Group told KTRH, "The economy wasn't broken before the pandemic", adding that here in Houston, the workforce has been growing stronger every month.
"The state did quite well in the last set of numbers. The Houston area is coming back nicely" Perryman said. "The health, ports, and energy, all 3 of those legs got kicked pretty hard during this pandemic and winter freeze, but the area is showing some signs of coming back, and we think the overall growth rates over the next few years are going to be very strong."
Some more recovery in Q2, followed by a strong summer. Perryman says it should be solid finish for the rest of the year, "There's a lot of money in people's pockets right now after being in their homes for a year."
And considering the inflation that is now upon us, and tax hikes in the future, it's a good thing!