Dallas Tx Employment

/Dallas Tx Employment

December Jobs Growth Misses, Wage Growth Still Weak

Yesterday I was musing about the expected rise in inflation and bond yields that so many professional pundits and talking heads are expecting in 2018. That's the story being bantered about on various mainstream cable news puppet shows. Today we received another reality check on that "pent up demand" and overheating labor market story as the December Jobs Report painted a rather lackluster finish to 2017. The BLS Employment Situation showed an increase of 148,000 jobs in December. That's the good news from the establishment survey. The Household survey (Table A) showed an increase of [...]

Denton County Real Estate 2018: All Eyes On The Fed

As we embrace the new year, and the freezing temperatures that arrived with it, Denton County real estate prices continued to climb higher as sales continue to grow at a measured pace. The housing boom seen during the last 4-5 years has been impressive by any standards. As the Fed continues its much anticipated balance sheet "normalization", there is a lot at stake for local real estate markets.  The U.S. housing market is now heavily dependent on Fed stimulus, in the form of artificially depressed mortgage interest rates, and the artificial "wealth effect" created by [...]

DFW Home Prices Pushing Limits Of Affordability

DFW home prices have been on a tear during the last 5 years. That begs the question of whether the recent price gains are sustainable. The answer to that inquiry generally boils down to who is selling what. In our hyper-financialized housing market it is not surprising when real estate practitioners or lenders suggest that we are not in a housing bubble. Whether you call it a housing bubble or not, there is no denying that the past decade has seen some dramatic shifts in the real estate market. Dallas/Fort Worth is certainly part of [...]

Dallas TX Employment Grows In September

Dallas TX employment continues to march higher. September brought an increase of 15,600 jobs compared to revised August figures. The Dallas-Fort Worth-Arlington MSA region added 93,600 jobs during the past year according to numbers from the Texas Workforce Commission. The official (goal-seeked) unemployment rate for the Dallas area stood at 3.4 percent in September, below the state average of 4 percent. The Dallas employment sector continues to be tight according to many local economists. Pia Orrenius, a senior economist with the Dallas Fed was "encouraged by the data". Even though Hurricane Harvey caused a drop [...]

Dallas Home Prices Challenge Builders

Dallas home prices are expensive, and builders are finally getting the message. That's the news from the most recent data on home starts in the DFW area, which reportedly surged in the 3rd quarter. Builders reportedly started 8,853 single-family homes in the DFW metroplex. For the 12 months ending in September there were apparently 32,234 permits recorded. This was the highest total in a decade. More interestingly, builders' starts for houses under $500,000 rose by 14.5% during the past year. Builders are finally waking up to the fact that the Dallas Fort Worth housing market [...]

Dallas Employment Declines In Typical Summer Turnover

The Dallas employment fell by 12,800 jobs compared to the previous month in the typical summer employment turnover. Many educations jobs roll off the books each summer only to be added back in as school begins in August. The trend of healthy job gains for the DFW metropolitan statistical area continues to be intact with no signs of slowing. The Texas economy added 19,600 jobs throughout the state in July, expanding for the 13th consecutive month. According to numbers from the Texas Workforce Commission Texas has added 293,400 jobs over the past year. For the [...]

October Employment Report Shows More Jobs, Lower Hourly Earnings

The good news from today's October employment report is that the economy continues to add jobs.  The BLS reported a gain of 171,000 new jobs with the unemployment rate ticking up to 7.9%.  The labor participation rate also rose .01 to 63.6%. The news you won't see in the headline numbers it that U-6 unemployment is still 14.6%.  That includes all those unemployed or underemployed, a more realistic picture of the employment situation.  Also missing from the headlines is the number of people unemployed 27 weeks or more.  That figure is still at 40% of [...]