Smaller to medium-size companies contributing significantly to DFW’s robust job growth
DFW’s economic engine has been working in high gear, adding significant new jobs each year
June 19, 2019
- DFW’s economic engine has been working in high gear, adding significant new jobs each year.
- While large employers like Toyota, Liberty Mutual, and JPMorgan Chase are highly visible, significant growth is occurring in companies having under 250 employees.
- 1.5 million DFW jobs, or 42 percent of our employment base, is in these very small to small to medium-sized companies. In comparison, 46 percent of US jobs are in these categories.
- Over the last two years, growth in these DFW companies have outpaced their US counterparts, accounting for close to 40 percent of the region’s job gains, versus 28.5 percent for the US overall.
- Key sectors that have contributed to this fast growth include professional and business services, other services, the construction trades, and hospitality and leisure.
- These smaller companies have been an important part of our region’s growth. However, as the number of “start-ups” wain in the US, we must ensure that we continue to advance DFW’s longstanding spirit of entrepreneurship.
Source: Texas Workforce Commission; Bureau of Labor Statistics; Craig Hall, “Boom”; JLL Research