Dallas Area's Much Closer to Rebounding From Recession Than Most of the Country
|From the graphic titled "Return to Peak Employment for Metro Areas" in the report issued this morning by the U.S. Conference of Mayors|
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%. ...Also, notes the report: "Mexico is the leading destination for Houston and Los Angeles, but Canada is Dallas' top destination."
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.