March 10, 2023
Beacon Employment Report | Texas
Presented by Beacon Economics
Copyright © Beacon Economics LLC
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 16,900 jobs in the latest numbers. This metro area accounted for more than one-third of the net jobs added in the state in January, representing a 0.4% employment increase on a month-over-month basis, and a 5.7% increase year-over-year.
Since February 2020, which marks the pre-pandemic peak of payroll employment, Texas has seen an increase of 6.3% in nonfarm employment, compared to 1.8% nationally. The Dallas-Fort Worth-Arlington area has accounted for nearly half (43%) of the nonfarm payrolls added and now accounts for more than 30% of nonfarm employment in the state.
The Houston-Woodlands-Sugar Land area posted a notable increase of 9,800 nonfarm jobs in January. This represents a 0.3% employment increase on a month-over-month basis and a 4.9% increase year-over-year. In absolute terms, this metro has added nearly 155,000 new jobs over the last twelve months.
The Austin-Round Rock metro has seen the largest increase compared to the pre-pandemic peak, with payroll employment 13.4% above February 2020 levels, while Texarkana (-1.7%), Odessa (-2.4%), and Beaumont-Port Arthur (-2.9%) have seen the largest decreases in employment.
For information about Beacon’s practice areas, please contact:
Managing Partner Sherif Hanna at 424.646.4656 or [email protected]