Source: Texas Workforce Commission; Preliminary values, not seasonally adjusted.
*Largest U.S. Cities excluding Dallas, calculated using weighted average: New York City, Los Angeles, Chicago, Houston, Philadelphia, Phoenix, San Antonio, San Diego, San Jose, and Austin.
December 2017
November
2017
Point Change
City of Dallas
3.3
3.3
0.0
DFW MSA
3.1
3.2
-0.1
Texas
3.7
3.7
0.0
USA
3.9
3.9
0.0
Largest U.S. Cities Average
4.1*
City of Dallas Labor Force & Employment (Residents)
Source: Texas Workforce Commission; Preliminary values, not seasonally adjusted.
Labor Force
Employed
December 2017
685,494
663,185
November 2017
685,877
662,914
Change
383
271
Percent Change
0.06
0.04
City of Dallas Unemployment Rate
Source: Texas Workforce Commission; Preliminary values, not seasonally adjusted.
The preliminary unemployment rate as reported by the Texas Workforce Commission for the City of Dallas for December 2017 remained at 3.3 percent. The rate reflects minimal increases in the size of the city's labor force (383 residents) and the number of unemployed Dallas residents (112 residents).
December was the 34nd consecutive month that the reported unemployment rate within the City of Dallas has outperformed both the national and state's unemployment rate.
City of Dallas Household Employment
Source: Texas Workforce Commission; Preliminary values not seasonally adjusted.
The preliminary December 2017 count of employed Dallas residents as reported by the Texas Workforce Commission relatively plateaued at 663,185 (0.04 percent growth).
The reported total was an estimated 271-person increase from the previous month's revised household employment level of 662,914.
Dallas-Fort Worth MSA 2016 Real Gross Domestic Product (GDP) Growth
Source: Bureau of Economic Analysis (BEA), September 20, 2017.
The Bureau of Economic Analysis states that the Dallas-Fort Worth MSA real (inflation-adjusted) GDP grew 3.0 percent in 2016. This is in comparison to 1.5 percent real GDP for the U.S.
MSA growth was led by information services; construction; and finance, insurance, real estate, rental, and leasing. U.S. growth was led by professional and business services; information services; and finance, insurance, real estate, rental, and leasing.
Dallas-Fort Worth MSA Consumer Price Index
Source: US Bureau of Labor Statistics, October 2017; Preliminary values not seasonally adjusted.
The Consumer Price Index is a weighted average price index for consumer goods and services. The Bureau of Labor Statistics publishes a consumer price index for the Dallas-Fort Worth MSA bi-monthly. Percentage change from the previously published index value is a representation of inflation over the past two-month period.
The Consumer Price Index for All Urban Consumers (CPI-U) for Dallas-Fort Worth rose 0.13 percent from September to November 2017. This was the largest two-month increase since March 2011. Over the same time period the U.S. consumer price index fell 0.06 percent.
The Dallas-Fort Worth core index (price growth less food and energy) increased by 0.77 percent with the U.S. inflation rate over the same period increasing 0.22 percent.
The Conference Board Consumer Confidence Index
Source: The Conference Board, Preliminary values, not seasonally adjusted.
The Conference Board Consumer Confidence Index® is designed to measure the overall confidence of the average consumer with respect to their personal finances. The Index combines consumer sentiment on the current state of the economy and consumer expectations regarding the near future into one composite index.
The U.S. index increased nearly two percent following a revised decreased in December over four percent. The "Present Situation" Index decreased just under one percent, while the "Expectations" Index increased over four percent.
The state and regional indices increased (Texas 1.01 percent and the Western South Central region 9.44 percent respectively).
Median Sale Price of Existing Single-Family Homes - Q3 2017
Source: National Association of Realtors, November 2017.
The National Association of Realtors (NAR) Quarterly Metropolitan Median Area Prices and Affordability Report provides a measure of the median selling prices for existing single-family homes and condos by metropolitan area.
While homebuyer demand was strong throughout the summer, new listings were unable to replace what was quickly sold giving shoppers very little to choose from and resulting in a slowdown in sales from earlier in the year.
Median sales prices in the Dallas-Fort Worth metropolitan area decreased by -2.4 during the third quarter of 2017. The year over year growth increased 8.0 percent in 2016.
Source: Council for Community and Economic Research, 2017.
The Council for Community and Economic Research publishes a quarterly Cost of Living Index to provide an accurate measure to compare cost of living differences among urban areas. Items on which the index is based have been chosen to reflect different categories of consumer expenditures. The index remains near the national average of 100 (Dallas = 102.0).
FHFA House Price Index - 2017Q3
Source: Federal Housing Finance Agency, Quarterly House Price All-Transactions Index, 100 Largest Metropolitan Statistical Areas, 2017; Dallas Office of Economic Development, 2017. Values not seasonally adjusted.
The Federal Housing Finance Agency House Price Index is calculated using home sales price information gathered from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac.
Home prices (non-seasonally adjusted) in the Dallas-Plano-Irving Metropolitan Division increased nearly 2 percent during the third quarter of 2017, while over the same period the average home price for the entire U.S. rose 1.3 percent.
For the year (Q3 2016 to Q3 2017), the U.S. rose 6.5 percent, eclipsing the previous 2016 high while Dallas-Plano-Irving rose 10.3 percent over the same timeframe.
Paychex IHS Small Business Jobs Index
Source: Paychex IHS Small Business Jobs Index, December 2017.
The Paychex | IHS Small Business Jobs Index provides an up-to-date measurement of the change in small business employment over the last 12 months. An upward trend represented by an index value greater than 100 indicates a strengthening small business job market, while a downward trend represented by an index value less than 100 represents a slowdown in small business hiring.
The data used for this index comes from a subset of Paychex clients and includes 350,000 small businesses with less than 50 employees in the U.S.
At 99.70 in December, the national Jobs Index fell a full percentage point from its February level, 100.78.
Dallas continued to declined in growth compared to other indexed metro areas in the nation by this measurement of small business job growth, decreasing to 99.7 in December as compared to November's index value of 108.7.
