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Dallas Jobs Market: 2017 Year-to-Date Review

Dallas Jobs Market: 2017 Year-to-Date Review

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

The Economic Impact of Hurricane Harvey

While Dallas was not in the direct path of Hurricane Harvey, the massive flooding in Houston and along the Gulf Coast is likely to have a lasting impact on the economy in Texas and across the country. The shutdown of oil and gas facilities could cause gas price increases of up to 25 cents per gallon. Houston evacuees are arriving in Dallas and the Kay Bailey Hutchison Convention Center is prepared to shelter up to 5,000 people.1

Economic Expansion in the Dallas-Fort Worth Suburbs

Strong economic growth is projected for the Dallas-Fort Worth region over the next five years, according to a forecast by independent global advisory firm Oxford Economics. Two Dallas suburbs were the top two counties in the nation for projected GDP growth between 2017 and 2021. Denton County ranked first for expected economic growth, while Collin County ranked second. The Texas counties Montgomery and Fort Bend, ranked third and sixth respectively on the forecast.2

Both Denton and Collin are in the midst of a business and population boom. Plano, Texas, which is within Collin County, is the new home of Toyota’s North American headquarters, which opened in July, and will also soon be home to a regional hub of Boston-based Liberty Mutual Insurance. A boost in the local economy is coinciding with these major corporate relocations as suppliers, restaurants, retail and entertainment businesses open to support them.3

Strong statewide job growth continued in June, with Texas gaining 19,300 jobs. The state’s diversification beyond the energy sector is credited with the strong growth. Many of the in-demand jobs are tech positions within wide-ranging industries, such as healthcare and financial services. The Dallas-Fort Worth area unemployment rate was 3.8 percent in May, 4 percent in June, and down again to 3.7 percent in July in preliminary figures.4

More Data and Call Centers in Dallas Fort-Worth 

Expansion of D-FW’s data center industry in 2016 has made it the 2nd largest data center market in the United States, according to some measurements. The region is expected to remain one of the top data center markets in coming years.5 NTT DATA Services recently began moving into its new North American headquarters in Plano. The Japan-based data services company is expected to create more than 6,000 jobs at the headquarters.6

D-FW is also seeing a growth in call centers, as more businesses move their offshore customer service and telemarketing sales offices back to the US. Mortgage service company Nationstar added 350 customer service jobs to its call center in the Dallas suburb of Longview, Texas, after closing a call center in Manila, Philippines.7

Tech startup incubator Capital Factory is expanding from Austin to Dallas to foster statewide support for entrepreneurial tech businesses. The accelerator connects startups with mentors and investors, and offers workspaces and training in exchange for 1 percent equity in the businesses.8

Dallas-based prepared food company Eatzi is expanding in the region from four to six locations. In May, the company added a store to Fort Worth, and in the fall will add a new location in Dallas. With the new locations, Eatzi will grow to 1,000 employees.9

Need help hiring in Dallas? Contact Hudson

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Sources

1 Gordon, Marcy. “Harvey Could Have Deep Impact on Texas Oil, US Economy.” U.S. News & World Report. Web. 28 Aug 2017.
2 Cook, Tracey M. “Dallas-Fort Worth has Top Two Spots in U.S. Based on 5-year Economic Forecast.” The Dallas Morning News. Web. 8 Aug 2017, accessed 27 Aug 2017.
3 Ibid
4 Cowan, Jill. “Texas Growth Steady, but Joblessness Drops.” The Dallas Morning News. Web. Jul 2017, accessed 27 Aug 2017.
5 Joseph, Laurie and Cowan, Jill. “In the Growing Industry of Data Centers, D-FW is a Powerhouse.” Web. 28 July 2017.
6 “Data Company Bringing 6,300 Jobs to Plano.” CBS DFW. Web. 28 June 2017.
7 Staff Reports. “Nationstar: Call Center Jobs Moved from Philippines.” Longview News-Journal. Web. 21 June 2017.
8 Abril, Danielle. “Capital Factory Brings its Austin Accelerator to the Dallas Entrepreneur Center.” D Magazine. Web. 8 Aug 2017.
9 Sakelaris, Nicholas. “Eatzi’s CEO Talks New Locations, Food Delivery and Competition.” Crain’s Dallas. Web. 12 July 2017.

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