The Dallas–Fort Worth economy expanded modestly in August. Year to date, the metroplex has created jobs at a 2.1 percent pace, outperforming both the state’s 1.1 percent and the nation’s 1.8 percent rate. Home prices rose further in the second quarter, and residential construction remained strong. Unemployment in Dallas held steady but ticked down in Fort Worth in August. Dallas Fed business-cycle indexes point to continued growth for the metroplex.
DFW employment grew an annualized 0.5 percent in August, following a 2.8 percent increase in July. The weakness in August was due to a 5.3 percent (annualized) drop in Fort Worth metro-area employment, while Dallas job gains remained strong at a 3 percent annual rate. Employment losses in Fort Worth have been concentrated in the goods-producing sector, which has been hemorrhaging jobs since the beginning of the year—down 10.2 percent (annualized) through August. Payrolls in the Fort Worth service sector have registered net gains of 1.7 percent (annualized) over the same period. Year to date, Dallas has added 48,700 jobs while Fort Worth has shed 2,300.
Read more...DFW Economic Indicators September 2015 via Dallas Fed