We did it…one-million new jobs in DFW!
DFW has been on an economic run this cycle – seeing exceptionally strong and consistent employment growth.
January 22, 2020
- DFW has been on an economic run this cycle – seeing exceptionally strong and consistent employment growth.
- After witnessing 140,000 jobs lost in 2008 and 2009 during the Great Recession, DFW rebounded quickly, with 56,000 jobs added in 2010.
- Since then, DFW job gains have averaged 95,000 annually, with some years topping out at more than 100,000.
- As of November, BLS reports that DFW has grown by just over 1 million new jobs since 2010, with almost 121,000 added in the last 12 months.
- Most major markets have seen stellar job gains during this cycle, but the only markets exceeding this 2010-2019 growth are NYC and LA – which are 1.5 to 2 times our size.
- In terms of percent growth, DFW has expanded 35 percent since 2010. There are only a few markets that have approached or exceeded this level of transformational job growth. These include Austin, Denver, Phoenix, San Francisco, and San Jose. Seattle holds the top spot here, growing 55 percent since 2010.
- While we watch for a tuning point, none is in sight as companies continue to grow organically and new companies expand or relocate to DFW to take advantage of the diverse economic opportunities and low business costs.
Source: BLS November 2019 estimates; JLL Research