Economic Indicators - April 2017

Unemployment Rates

Source: Texas Workforce Commission; Preliminary values, not seasonally adjusted. *Largest U.S. Cities excluding Dallas are: New York City, Los Angeles, Chicago, Houston, Philadelphia, Phoenix, San Antonio, San Diego, San Jose, and Austin.
 
April 2017
March 2017
Point Change
City of Dallas
4.1
4.5
-0.4
DFW MSA
3.8
4.3
-0.5
Texas
4.5
5.0
-0.5
USA
4.1
4.6
-0.5
Largest U.S. Cities Average
 
4.4*
 

City of Dallas Labor Force & Employment (Persons)

Source: Texas Workforce Commission; Preliminary values, not seasonally adjusted.

Labor Force
Employed
April 2017
677,458
649,579
March 2017
679,316
648,876
Change
-1,858
703
Percent Change
-0.27
0.11

City of Dallas Unemployment Rate ​

Plot 1
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 April 2017 fell to 4.1 percent. The rate reflects a 1,858 person decrease in the size of the city's labor force with a 703 person increase in the number of employed Dallas residents.
  • April was the 26th consecutive month that the reported unemployment rate within the City of Dallas has outperformed the state's unemployment rate.

City of Dallas Household Employment


Plot 30
Source: Texas Workforce Commission; Preliminary values not seasonally adjusted.
  • The preliminary April 2017 count of employed Dallas residents as reported by the Texas Workforce Commission increased to 649,579 (0.11 percent).
  • The reported total was a 703-worker increase from the previous month’s revised household employment level of 648,876.

Dallas-Fort Worth MSA Consumer Price Index

Plot 9
Source: US Bureau of Labor Statistics, March 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 Dallas-Fort Worth consumer price index remained relatively unchanged, posting a slight increase of 0.31 percent from January to March 2017. Over the same time period the U.S. consumer price index increased by 0.40 percent.
  • The Dallas-Fort Worth core index (price growth less food and energy) increased by 0.56 percent over the two-month period, while the U.S core index increased by 0.48 percent.

The Conference Board Consumer Confidence Index


Plot 11
Source: The Conference Board, March 2017; 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.
  • While consumer sentiment with regard to the current state of the economy showed modest gains in 2015, declines in oil and gas industry activity and weakening exports in 2016 were reflected in a lowering of consumer expectations. More recently, WTI Crude oil prices hovering between 50 and 55 USD/bbl may have helped Texas oil producers over other areas due to regional advantages in oil pipeline infrastructure.

Median Sale Price of Existing Single-Family Homes - Q1 2017


Plot 22
Source: National Association of Realtors, May 2017.
  • The National Association of Realtors 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.
  • A majority of metropolitan areas in the United States experienced strong price growth during 2016, as a result of a decline in housing supply and an uptick in demand fueled by low interest rates and a stronger job market. Median sale prices in the USA increased by 5.7% during 2016.
  • Median sale prices in the Dallas-Fort Worth metropolitan area increased by 9.6% during 2016, and increased by 2.6% during the first quarter of 2017.

C2ER Cost of Living Index - 2016


Plot 13
Source: Council for Community and Economic Research, 2016.
  • 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.
  • Continued declines in oil and gas industry activity have led to a sustained lower composite index cost of living score for Houston compared to Dallas.

FHFA House Price Index - Q1 2017

FHFA 2017 Q1 Map

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 in the Dallas-Plano-Irving Metropolitan Division increased by 2.25 percent during the first quarter of 2017, while over the same time period home prices for the entire U.S. remained flat, posting a 0.76 percent increase.