Dallas Market Report
Recent Economic Growth and Diversification Shields Dallas From Turbulence; Buyers Remain Optimistic, Anticipating Modified Demand Drivers
Economic diversity alleviates health crisis’ shock to employment. The Dallas/Fort Worth labor force has been one of the fastest growing in the nation over the past decade. From 2010 through the beginning of this year, more than 940,000 jobs were added metrowide with six different employment sectors expanding by at least 30 percent over that stretch. Economic heterogeneity is helping stabilize the metro’s labor force by mitigating sector-specific shocks. While the market’s unemployment rate momentarily touched double digits as almost 410,000 jobs were lost in just the months of March and April, it remained below the national average. Additionally, the state’s early reopening underscored an accelerated recovery of jobs, as the 211,000 roles added from May through August pushed the unemployment rate back down to 5.3 percent.