The latest from the U.S. Bureau of Labor Statistics shows that within the 12 largest Metro Statistical Areas (MSAs), Dallas-Fort Worth and Houston rank 1st and 2nd for annual job growth.
For the United States, the average job growth over the last year was approx. 1.5%. Growth leader, Dallas ran at 3.5% followed by Houston at 3%, and the Phoenix valley at 2.9% (Includes Phoenix, Mesa, and Scottsdale).
“It is remarkable and a testament to the strength of our industries that Texas continues to maintain a historic low unemployment rate of 3.4%. Our economy remains strong as a result of the continuing growth of our Texas employers and our thriving industries.” - Texas Workforce Commission
Houston has added over 93,000 jobs, and when combined with Dallas, Texas created 77,000 more jobs in the last year than the New York-New Jersey MSA.
"In July, the Texas economy added 35,200 seasonally adjusted total nonfarm jobs. The state’s unemployment rate held steady at 3.4 percent matching the all-time record low set in June, its lowest since it was first tracked in 1976." - The Center Square
What kind of jobs are being added? "In Houston, professional and business services added the largest number of jobs, 24,500, from July 2018 to July 2019. It also added 11,000 new manufacturing jobs, 9,900 new leisure and hospitality jobs, and 9,400 new construction jobs over the same time period." - Dallas and Houston metropolitan areas lead U.S. in job growth
How else is Houston growing? Check out our market reports here: fig.us/marketreports