By: Walter Bialas
I’ve been pretty adamant that tracking every shift in metro jobs numbers is a thankless task – sometimes they are up, sometimes they get re-benchmarked, sometimes seasonal fluctuations make the numbers do funny things. The important thing to watch is the overall game and not “who scored in the 5th when you stepped away to get some nachos”…
Well, with the job numbers released this week by the Bureau of Labor Statistics, I felt compelled to highlight DFW in a chart of the week.
On a year-on-year basis, DFW has been tracking above the 100,000-job mark for some time now, and we’ve seen no slowdown like other parts of Texas due to the drop in oil prices. A few weeks ago, Moody’s Analytics was in town for their spring client meeting. Even their senior economists have been surprised by the strength and stability of DFW’s economic engine.
Well, since Spring is here, I decided to continue the baseball metaphor – and, with almost 130,000 jobs added in the last 12 months – I think that qualifies for an “out of the park” home run. With that said, we are still behind NY and LA . Even though those markets are also up, DFW is much smaller and is now growing at close to 4%, which puts us near the top of most places in the US.
Now for the caveat, monthly job numbers do fluctuate and don’t be surprised if we slide back a bit. The takeaway here, however, is that our economy is solid.