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The 2017 Jobs Outlook for Dallas

The 2017 Jobs Outlook for Dallas

Whether you’re an executive at a Dallas company in need of a recruitment strategy or a candidate looking for a job, it’s important to understand the realities facing your industry in Big D. Here we’ve gathered the most recent news and predictions for hiring and employment in Dallas:

In 2016, the Dallas region experienced 3.3 percent job growth, outpacing all other Texas metro areas. The combined Dallas-Fort Worth region saw the creation of 92,000 new jobs in 2016, nearly half of the 188,000 jobs created statewide. Employment in the Dallas-Fort Worth metro area grew 2.7 percent last year, compared with 1.6 percent for the state and 1.5 percent nationally. Employment growth in the metro area was especially strong in the professional and business services sector, and in the construction and mining sector.1

The unemployment rate in Dallas rose to 4.4 percent in December, up 0.6 percent since December 2015, but remaining lower than the national rate of 4.7 percent.2

Dallas Region Draws Companies and Jobs

New headquarters for Toyota North America are under construction in Plano, Texas, north of Dallas. The new complex will bring about 4,000 jobs to the region when it is completed this Spring. Some of those positions will be filled by people relocating with the company, but the automaker is expected to hire 1,000 new employees for the facility.

JPMorgan Chase and Liberty Mutual Insurance are building new regional offices in the same $2 billion development project in Plano, bringing 6,000 employees and 5,000 employees respectively to the massive campus.3 Money magazine ranked Plano, Texas, third in the US among its “Best Places to Live, 2016.” Job growth is expected to continue in the Dallas suburb with the addition of another 20,000 positions over the next five years.4

Charles Schwab & Co. is building a new regional office in the Dallas-Fort Worth suburb of Westlake, Texas. The new hub for the financial services company is expected to bring 5,000 jobs to the region.5 In October 2016, Jacobs Engineering Group announced it would relocate its global headquarters from Pasadena, California, to downtown Dallas, bringing 700 jobs to the Dallas-Fort Worth region.6

AT&T plans to renovate and expand its longtime downtown Dallas digs to create a tech campus that is inviting to employees, as well as to residents and visitors to Big D. The AT&T Discovery District will offer outdoor entertainment venues, restaurants and retail, as well as green spaces. AT&T expects to expand its headquarters workforce by 1,300 over the next few years.7

Dallas-area Housing Market:

Forbes ranked Dallas number one in the US on its “Where to Invest in Housing in 2017” list. The Dallas housing market is solid due to steady growth in jobs, population, and home prices. Home prices in Dallas are currently undervalued compared with local income levels and historic averages. The current forecast for annual growth of Dallas home prices is 9 percent.8  

Need help hiring in Dallas? Contact Hudson.

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Sources cited

1 DFW Economic Indicators. Federal Reserve Bank of Dallas. Web 24 Jan 2017, accessed 6 Feb 2017
2 Ibid
3 Metro Economic Outlook: Dallas. Society for Human Resource Management. Web 1 Jan 2017, accessed 6 Feb 2017
4 “Best Places to Live, 2016.” Money. Web 18 Sept 2017, accessed 6 Feb 2017
5 Carlisle, Candace. “Charles Schwab Now Planning for 5,000 Employees in DFW Hub.” Dallas Business Journal. Web 3 Nov 2016, accessed 6 Feb 2017
6 Carlisle, Candace. “Global Engineering Firm to Relocate Headquarters from California to Dallas.” Dallas Business Journal. Web 24 Oct 2016, accessed 6 Feb 2017
7 Carlisle, Candace. “AT&T to Spend Millions on an ‘Urban-Tech’ Dallas Campus; to add 1,300 workers.” Dallas Business Journal. Web 9 Oct 2016, accessed 6 Feb 2017
8 Sharf, Samantha. “Full List: Where to Invest in Housing in 2017.” Forbes. Web 10 Jan 2017, accessed 6 Feb 2017

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