As Texas continues to experience job growth and a record-low unemployment rate, it’s no wonder that businesses and prospective employees alike continue to flock to the region.
With an unemployment rate at 3.7 percent as of October, Texas — and specifically, the Dallas-Fort Worth metroplex — has enjoyed great private-sector employment gains over a breadth of industries.
Only 30 minutes outside of Dallas proper, Midlothian has also reaped the benefits of a strong economy and a workforce that continues to see positive growth. According to several reports and demographic forecasts, Texas and the Midlothian area demonstrate a strong outlook.
Texas Workforce by the Numbers
Local industries continue to see strong annual growth of 3.2% annually. Other numbers that highlight positive implications of the area’s workforce as of October 2018 include:
Out of the 12 largest metropolitan areas in the nation, Dallas ranked third in the annual rate of job growth, and ranked second in the number of jobs added over the past 12 months.
The DFW metroplex added 85,000 nonfarm jobs year over year.
The unemployment rate of the Dallas-Fort Worth area is 3.2%, even lower than the state’s and the nation’s rate of 3.5%.
The North Central Texas workforce is forecasted to reach 5.4 million jobs by 2030, up from 3.9 million in 2010.
Midlothian’s labor market is forecasted to grow of 304% between 2000 and 2030, with 12,271 jobs added to the market.
The largest represented industries for the metroplex includes 20% trade, transportation, and utilities; 19% professional and business services; and 12% education and health services.
As of October 2018, DFW’s professional and business services added 27,400 jobs (a 5.6% year over year increase); education and health services added 9,300 jobs (a 3% increase); mining, logging, construction added 13,100 jobs (a 9.1% increase); leisure and hospitality added 8,700 jobs (a 3.3% increase); trade, transportation, and utilities added 7,800 jobs (a 1.5% increase); and manufacturing added 4,900 jobs (a 2.7% increase).
The metroplex has seen positive gains overall in the workforce since the spring of 2010, with the past year showing growth averages steadily above 3%.
Class 9 firms (established employers with 1000+ employees) employ 32.6% of the labor in the metroplex. Class 6 firms (100-250 employees) account for the next highest amount at 13.7%.
The Lure of Midlothian’s Labor Market
As a site selector, there are a plethora of factors that play into choosing a location for your business. Perhaps one of the most significant factors impacting the site selection process is access to a skilled workforce, which is what makes Midlothian’s labor market so appealing.
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 workforce.
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.