As Texas continues to experience job growth (seeing positive trends in 15 of the past 16 months), it’s no wonder that businesses and prospective employees alike continue to flock to the region.
With an unemployment rate at three tenths below the national average, Texas, and specifically, the Dallas-Fort Worth metroplex has enjoyed great private-sector employment gains over a breadth of industries.
Only thirty minutes outside of Dallas proper, Midlothian too has reaped the benefits of a strong economy, and a workforce that continues to see positive growth. According to tracer2.com, we're seeing Texas and the Midlothian area promising a strong outlook.
Workforce by the Numbers
Local industries continue to see a strong annual growth of 3.2% annually. Other numbers that highlight positive implications of the area’s workforce include:
- The unemployment area of the Dallas-Fort Worth area is even lower than the state average, coming in at 3.6% for the month of October.
- The DFW area continues to lead (along with Houston) the seven industry areas where jobs were added, leaving the DFW specific growth rate at 5.6%.
- The goods producing and service providing industries both saw positive increases of .3% and .2% respectively.
- The largest represented industries for the metroplex includes 21% Trade, Transportation, and Utilities, 19% Professional and Business Services, and 12% Health and Education.
- Between January and September 2016, DFW’s financial industries added 14,700 jobs (a 5.3% increase); education and health services added 14,600 (a 3.5% increase); mining, logging, construction added 5,000 jobs (a 2.1% increase); leisure and hospitality added 5,000 jobs (a 3.9% increase); and trade, transportation, and utilities adding 3,900 jobs (a 2.3% increase).
- The metroplex has seen positive gains in the workforce since Spring of 2010, with the past year showing growth averages steadily above 4%.
- Class 9 firms (established employers with 1000+ employees) employ nearly 33% of the labor in the metroplex, with Class 6 firms (100-250 employees) accounting for the next highest amount at nearly 14%.
- The DFW unemployment rate has remained steadily below the national and statewide rate, hovering just under 4%.
- Texas grew by an estimated 13,700 nonfarm jobs in October 2016, adding jobs in 18 of the past 19 months.
In October alone, manufacturing, mining, and logging (which includes energy production) added jobs — 2,000 and 1,000, according to Dallas Morning News. They also noted that the Dallas Fed bumped up its growth forecast for 2016, from 1.2 percent last month to 1.5 percent through the end of the year.
As a part of the dynamic metroplex, Midlothian enjoys and contributes to the statistics above, and looks forward to continuing the progression.
These numbers reflect how Midlothian and much of the region are seeing positive trends that beat state and national averages when it comes to the labor market and workforce growth. As trends have stayed largely consistent, it’s no doubt that Midlothian is a positive place to be for continued employment opportunity and economic benefit.
Resources: Annual Job Growth | Dallas MSA | Texas Workforce Press Release | Dallas Biz Journal | Dallas Morning News