November 15, 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 area posted the largest increase among Texas’s major metro areas, adding 6,300 nonfarm jobs in October, an increase of 0.1%. Payrolls also increased 1.7% in the region over the last year. In absolute terms, this metro has added 73,600 new jobs over the past twelve months, which amounts to one in four jobs created in the state.
In percentage terms, job growth has been strongest in College Station-Bryan, where payroll growth increased 3.0% year-over-year, followed by Brownsville-Harlingen (2.4%) and San Antonio-New Braunfels (2.3%).
The Houston-The Woodlands-Sugar Land metro saw a decrease of 3,300 jobs in the latest numbers, a 0.1% drop in employment on a month-over-month basis. However, payrolls were still up 1.8% on a year-to-year basis.
Austin employers added 1,600 new jobs in October, a month-over-month increase of 0.1% and a 1.7% increase year-over-year. Payrolls in the Austin-Round Rock metro area are 18.9% above pre-pandemic levels, the highest amongst Texas’s major metro areas.
Although some metro areas saw minor job losses month-over-month, every metro in the state has more jobs compared to last year.
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For information about Beacon’s practice areas, please contact:
Managing Partner Sherif Hanna at 424.646.4656 or [email protected]