A new study by SmartAsset, a financial technology company, is looking at the economic rebound of 49 of the largest U.S. cities, which includes Houston.
According to SmartAsset, vaccination rates, public spending, poverty rates, tax revenue and politics are contributing factors to varying rates of economic recovery.
In its study, SmartAsset reviewed the five data points to rank cities based on their economic recovery:
- Percentage change in consumer spending
- Percentage change in small businesses that are open
- Percentage change in small business revenue
- Percentage change in job postings
- March 2021 unemployment rate
Houston’s economic recovery from the pandemic is so-so, as its performance is slightly better than the study-wide average in some categories and bleak in others, according to CultureMap’s review of the study.
Here’s where Houston stands:
1. Change in consumer spending (January 2020-April 2021)
- Houston: 11.7 percent
- Study-wide average: 7.3 percent
2. Change in small businesses open (January 2020-April 2021)
- Houston: -34.5 percent
- Study-wide average: -32.51 percent
3. Change in small business revenue (January 2020-April 2021)
- Houston: -36.6 percent
- Study-wide average: -30.9 percent
4. March 2021 unemployment rate
- Houston: 10.6 percent
- Study-wide average: 6.6 percent