June 21, 2024
Beacon Employment Report | Texas
Presented by Beacon Economics
Copyright © Beacon Economics LLC
REGIONAL OVERVIEW
Currently, the Beacon Employment Report | Texas focuses on three of the state’s largest metropolitan areas, the Dallas, Houston, and Austin metros.
The Dallas-Fort Worth-Arlington metro saw a sizable increase of 9,300 jobs in the latest numbers. This represents a 0.2% expansion in employment on a month-over-month basis and a 1.9% increase year-over-year.
The Houston-The Woodlands-Sugar Land area posted an addition of 4,900 nonfarm jobs in May, an increase of 0.1%. Payrolls in this metro area have also increased 2.3% over the last year, matching the statewide rate of job growth. In absolute terms, the Houston metro has added 78,300 new jobs over the last twelve months, ranking second amongst Texas’s major metros behind Dallas-Fort Worth-Arlington.
Job growth has been strongest in College Station-Bryan, where payroll growth increased 4.0% year-over-year, followed by Sherman-Denison (3.8%) and Waco (2.8%). None of Texas’s major metro areas experienced job losses on an annual basis.
Austin employers added 4,100 new jobs in May, a month-over-month increase of 0.3%. This represents a 2.4% increase year-over-year. Payrolls in the Austin-Round Rock metro area are 18.5% above pre-pandemic levels, the highest amongst any of Texas’s major metropolitan areas.
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For information about Beacon’s practice areas, please contact:
Managing Partner Sherif Hanna at 424.646.4656 or [email protected]