Dallas Unemployment Rate

Dallas Unemployment RateDallas Unemployment RateDallas Unemployment RateLike much of the state of Texas, Dallas welches impacted by the recession as much as the rest of the country. To date, it is the largest producer of jobs over the past several years and the fourth largest center for employment in the United States, making it an attractive destination for employers and workers.Unemployment in DallasAccording to the Bureau of Labor Statistics (BLS), the Dallas unemployment rate is impressively low. The citys overall unemployment rate hovered well below the national average during the recession and has continued to fall. In 2014, the citys unemployment rate of six percent dropped to 4.5 percent.Recovery from the 2008 RecessionDallas recovery from the recession of 2008 was relatively quick, the unemployment rate falling well below the overall US unemployment rate as the economy started its turnaround. In fact, Texas leads the nation in economic recovery since the recession. This is d ue in large part to the concentration of successful corporations in the area.Even during the recession, Dallas was the third largest hub for many industry conferences and meetings, thanks to the large, centrally located Dallas Convention Center. These meetings increased awareness about the thriving Dallas area and led many companies to start large-scale operations there both Comerica Bank and ATT moved their headquarters to the city.Thriving Industries in DallasOil, one of the areas primary natural resources, continues to be a leading factor in job opportunities in the city. This industry employs an array of workers in areas such as finance, engineering and sales. Beyond the oil industry, high-tech, biotechnology, healthcare, banking, defense, and energy companies are the standout area industries. Food processing, due to the large amount of ranching, is also a booming industry.Dallas is home to 12 Fortune 500 companies, making it the third largest city in the number of enterprise co mpanies. These companies include Texas Instruments, Kimberly-Clark and ExxonMobil, the second most profitable company in the world. As Dallas continues to experience a population influx, these companies will continue to need more employees.Other large companies headquartered in the city include Southwest Airlines, American Airlines, Mary Kay, Zales and 7-Eleven.Recent Commercial SuccessesSince the recession, Dallas is in the top 20 cities for the number of patents issued, which is a reminder of the startup prowess of the city. It has the sixth largest concentration of high-tech workers in the country many of these workers use the citys commercial resources as a stepping stone for their own financial success. The lack of state income tax also makes Dallas an attractive place to work and do business.Industries in RecessionWhile the oil industry is facing a recession, it fares well in comparison to other industries. The downturn in the industry is a direct result of the fall in global crude oil prices. Because the energy sector is at the mercy of speculation, the industry could continue to fall or do the exact opposite. 2015 will likely be a defining moment in the future of the energy industry in Dallas.Current Dallas RankingsAccording to recent Forbes rankings, Dallas ranks 6th on the list as the best place for white collar jobs, in large part to a growing population and new companies that inhabit the city. This affects the job growth rate, which is currently at 2.6 percent annually and is forecasted to be 3.8 percent in the near future, making it one of the highest rates in the country.The high-tech job sector currently makes up 7.4 percent of the workforce. The city currently ranks 133rd in the cost of doing business, despite an overall decline in rent for both residential and commercial buildings.A key measure of labor supply, the unemployment rate is defined as the percentage of the total labor force that is unemployed but actively seeking employment and wil ling to work. Use the links below to see unemployment trends from the 28 major metropolitan marketsAtlantaDetroitNew York CitySan FranciscoBostonHoustonPhiladelphiaSeattleChicagoLos AngelesPittsburghWashington, D.C.DallasRelated ResourcesPost a Job Dallas