Dallas population continues to grow
A rising population is typically a positive sign for many metros. This indicates that people are interested in moving to a certain area, which could significantly influence the housing and job markets. Many new residents are relocating to Texas cities in 2012, including Dallas. In fact, recent data indicates there might be rising interest in the homes for sale in Dallas due to the rapidly increasing population.
An On Numbers analysis by the Dallas Business Journal revealed that Dallas' population increased by 45,716 people between April 2011 and July 2012. This reflects the strength of the region's economy, which continues to draw businesses and job seekers to the area.
Those considering new homes in the metro might want to examine employment statistics for the region. In the metropolitan statistical area (MSA) that includes Arlington, Dallas and Fort Worth, total nonfarm employment grew between January 2012 and June 2012. The U.S. Bureau of Labor Statistics notes that the local economy added 64,000 new nonfarm workers during this time frame, which might have contributed to the recent rise in the population.
Take a look at a few of the industries in which Dallas continues to see employment increases.
Professional and business services
Employees in this industry provide support in a variety of sectors, including accommodations and food service companies. Between January 2011 and June 2012, this segment has seen its employment increase from 431,800 workers to 461,300 staff members in the MSA. Meanwhile, the metro area has seen the unemployment rate fall from 8.3 percent to 7.1 percent during the same period. .
Mining, logging and construction
At least 12,000 new workers have joined companies in this industry from January 2011 to June 2012. Additionally, new construction projects continue to help the local economy, and could lead to new job opportunities throughout the area.
For instance, the Dallas Observer reports that building professionals have recently started construction of JoJo, a Mediterranean restaurant at 2626 Howell Street in Uptown. The team completing the project is taking a step-by-step approach to ensure the dining venue's quality.
This new restaurant is just one of several being built by construction teams in Dallas. New construction is a positive sign for the region, as it reflects the growing interest that could play a role in the area's short- and long-term success.