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Airline job loss could affect Houston real estate sector

The United and Continental Airlines merger will cost 1,500 people their jobs in Houston.

The United and Continental Airlines merger will cost 1,500 people their jobs in Houston.

Last May, United and Continental Airlines agreed to a merger, under which Continental would essentially be absorbed by United. While optimism was high for the parties involved, new developments might not be as fruitful for new company's employees.

According to a recent report in the Houston Chronicle, as many as 1,500 employees could be laid off in the company's downtown Houston office.

As a result of the merger, Continental took the name of United, whose headquarters are located in Chicago. When this took place last October, the company had roughly 3,000 workers employed in Houston.

"To date, we've identified 1,500 corporate positions that will remain downtown. The process is still ongoing," said United spokesperson Mary Clark.

Due to this employment fluctuation, Houston's real estate market could be affected negatively. Those interested in moving might now be more reluctant, while those who currently have homes might not able to afford them any longer.

The region's job market has been up and down lately. A recent report from the U.S. Bureau of Labor Statistics revealed that as many as 46,000 jobs in the financial sector were eliminated during the last three years.