Economic Indicators - August 2017

Unemployment Rates

Source: Texas Workforce Commission; Preliminary values, not seasonally adjusted. *Largest U.S. Cities excluding Dallas, calculated using weighted average: New York City, Los Angeles, Chicago, Houston, Philadelphia, Phoenix, San Antonio, San Diego, San Jose, and Austin.
 
August 2017
July 2017
Point Change
City of Dallas
4.1
3.9
0.2
DFW MSA
3.9
3.7
0.2
Texas
4.5
4.3
0.2
USA
4.5
4.6
-0.1
Largest U.S. Cities Average
 
5.0*
 

City of Dallas Labor Force & Employment (Persons)

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

Labor Force
Employed
August 2017
678,137
650,671
July 2017
679,078
652,610
Change
-941
-1,939
Percent Change
-0.14
-0.30

City of Dallas Unemployment Rate ​

Unemployment Rate Graph
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 August 2017 rose to 4.1 percent. The rate reflects a 941 person decrease in the size of the city's labor force while the number of employed Dallas residents decreased by 1,939 people.

  • August was the 30th consecutive month that the reported unemployment rate within the City of Dallas has outperformed the state's unemployment rate.

City of Dallas Household Employment


Employment Graph
Source: Texas Workforce Commission; Preliminary values not seasonally adjusted.
  • The preliminary August 2017 count of employed Dallas residents as reported by the Texas Workforce Commission decreased to 650,671  (0.30 percent decrease).
  • The reported total was an estimated 1,939-worker decrease from the previous month’s revised household employment level of 652,610.

Dallas-Fort Worth MSA Consumer Price Index

CPI Graph
Source: US Bureau of Labor Statistics, May 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 posted a slight increase of 0.15 percent from May to July 2017. Over the same time period the U.S. consumer price index was flat  (0.02 percent increase).
  • The Dallas-Fort Worth core index (price growth less food and energy) increased by 0.21 percent over the two-month period, while the U.S core index increased by 0.04 percent.

The Conference Board Consumer Confidence Index


CCI Graph
Source: The Conference Board, July 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.
  • Declines in oil and gas industry activity and weakening exports were reflected in a lowering of consumer expectations in the region in 2016. More recently, WTI Crude oil prices hovering between 50 and 55 USD/bbl through the first half of 2017 may have helped Texas oil producers relative to other areas due to regional advantages in oil pipeline infrastructure. Currently, consumers’ appraisal of current conditions improved in August while the outlook for the labor market was mixed. Note that the August survey was conducted before Hurricane Harvey. 



Median Sale Price of Existing Single-Family Homes - Q2 2017


NAR GRAPH
Source: National Association of Realtors, Aug 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 5.2% during 2016.
  • Median sale prices in the Dallas-Fort Worth metropolitan area increased by 9.6% during 2016, and increased by 7.9% during the second quarter of 2017.

C2ER Cost of Living Index - Q1 2017

 
COLI Graph
Source: Council for Community and Economic Research, 2017.
  • 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. The index remains near the national average of 100 (Dallas = 101.2).
  • 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 - 2017Q2

FHFA House Price Index -2017Q2

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 4.2 percent during the second quarter of 2017, while over the same period the average home price for the entire U.S. rose 3.6 percent. 
  • For the year (Q2 2016 to Q2 2017), the U.S. jumped 6.2 percent, eclipsing the previous 2016 high while Dallas-Plano-Irving rose 9.9 percent over the same timeframe.

Paychex IHS Small Business Jobs Index

C2ER Graph
Source: Paychex IHS Small Business Jobs Index, 2017.
  • The Paychex | IHS Small Business Jobs Index provides an up-to-date measurement of the change in small business employment over the last 12 months. An upward trend represented by an index value greater than 100 indicates a strengthening small business job market, while a downward trend represented by an index value less than 100 represents a slowdown in small business hiring.
  • The data used for this index comes from a subset of Paychex clients and includes 350,000 small businesses with less than 50 employees in the U.S.
  • Dallas led all indexed metro areas in the nation by this measurement of small business job growth,  increasing 0.60 percent in August to 102.23 and widening its lead as the top-ranked metro.