Dallas Area's Much Closer to Rebounding From Recession Than Most of the Country

Categories: Biz, City Hall
DallasEcoRebound.jpg
From the graphic titled "Return to Peak Employment for Metro Areas" in the report issued this morning by the U.S. Conference of Mayors
Had a lengthy talk with Mayor Mike this morning about yesterday's doings at the U.S. Conference of Mayors in D.C. Long story short, said the co-chair of its Work and Opportunity Task Force: "This is not about labor or business. I think the Democrats will say, 'We're pro-labor and pro-small business,' while the Republicans will say, 'We're pro-business.' But the only way it works is if it works together, which is what I was trying to advocate for." And we'll get back to that later, as Rawlings broke down his four focal points for economic development in Dallas: "health care, technology, logistics and finance."

But according to a report published this morning by the U.S. Conference of Mayors, 2012 Employment Forecast and the Impact of Exports, Dallas is doing pretty, pretty, pretty good all things considered. The map you see above says it all: While it's going to take most of the country years to rebound from The Great Recession of 2008, Dallas, Fort Worth and surrounding cities are guesstimated to be about 12 months away from recovering most of the jobs lost in recent years. Says the report:
From the Marcellus Shale in the Northeast to the Barnett Shale in northern Texas, natural resources and mining is projected to grow strongly. But energy-rich states such as Texas and Oklahoma in the West South Central region will also expand in other areas. For example the Dallas-Fort Worth metro has become the Southwest's largest wholesale trade center, and one of the region's major retail hubs. The trade and transportation sectors will contribute over 17,000 new jobs in 2012, helping total payrolls rise at a rate of 1.9%. ...

In 2012, professional business services will add 12,800 jobs in the Dallas-Fort Worth metro growing at 2.8%, 10,500 jobs in the Houston metro growing 2.8%, and 1,900 jobs in Oklahoma City metro at 2.4% growth. These three metro economies will also be augmented by 23,400 new education and health services workers.
Also, notes the report: "Mexico is the leading destination for Houston and Los Angeles, but Canada is Dallas' top destination."

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6 comments
Scruffygeist
Scruffygeist

West South Central? Is that for real or is it a directional school that UT is scheduling for non-conference play?

jfpo
jfpo

So will Leppert's Senate campaign now focus on the "Dallas miracle"?

Guest
Guest

I refuse to accept any map that implies that Houston (and Lubbock!) is better off than we are.

LaceyB
LaceyB

I don't like your article. This one, which, ironically, I read coming back from Mexico, explains our "Great Depression" a lot better. http://m.vanityfair.com/politi.... The "Long Slump" is much more apt. And, the amount of people and fresh or second-time students competing for those service jobs is gonna be ridunculous. Better recovery than anywhere else? I doubt that.

Darrd2010
Darrd2010

there are rumors that the Barnett Shale is drying up. Now, other areas like Eagle Ford might be doing better, but the Barnett is another story. The Marcellus and other areas like Utica are still going. I would still not hang my hat on an economy based on shale gas.

LaceyB
LaceyB

Right on, SI! Seriously, even if those cities had money growing on trees, I doubt I'd move to harvest. Besides, if all the jobs that are coming up are on the mining side of things, really, how many people will be flocking to that?

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