Dallas-Fort Worth's job base grew the fastest of the nation's dozen biggest metro areas over the year, the Bureau of Labor Statistics reported Thursday. From November 2016 to November of last year, the D-FW metro added 100,400 jobs — a 2.8 percent increase. That was also the largest increase by sheer number.
Much of D-FW's growth was spurred by expansion in professional and business services, which added 31,100 positions. That's no surprise as regional leaders work to recruit corporate headquarters that employ thousands of highly paid workers in sprawling new developments anchored by offices. In particular, financial services companies have expanded their head counts in areas where living costs are cheaper than the coastal cities where those companies often have their headquarters. Charles Schwab, for instance, is expected to have 2,600 workers at its campus in Westlake that's under construction.
Now, economists say, the biggest challenge in many fast-growing cities is to find enough workers to fill those jobs as baby boomers age out of the workforce and immigration slows. At the national and state levels, unemployment has been at record lows. Still, the Federal Reserve Bank of Dallas predicted that Texas, whose growth has has been powered in large part by D-FW in recent years, will continue to add jobs at top speed in 2018.
- Dallas Morning News, January 12, 2018