Dallas-Fort Worth Area Economic Summary

Dallas-Fort Worth Area Economic Summary

Updated February 07, 2024

This summary presents a sampling of economic information for the area; supplemental data are provided for regions and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area summaries and geographic definitions, see regions/economic-summaries.htm.

Unemployment rates for the nation and selected areas

Unemployment rates

Average weekly wages for all industries by county

Dallas-Fort Worth area, second quarter 2023 (U.S. = $1,332; Area = $1,421)

United States

3.3 3.5

Dallas-Fort Worth area

3.1 3.3

Collin Co.

2.9 3.1

Dallas Co.

3.3

3.4

Denton Co.

2.9 3.1

Tarrant Co.

3.2

3.3

0.0

2.0

4.0

Dec-22 Dec-23 Source: U.S. BLS, Local Area Unemployment Statistics.

Source: U.S. BLS, Quarterly Census of Employment and Wages.

Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector

12-month percent changes in employment 15.0

10.0

5.0

0.0

-5.0

-10.0 Dec-20

Dec-21

Dec-22

Dec-23

Dallas-Fort Worth area

United States

Source: U.S. BLS, Current Employment Statistics.

Change from Dec.

Dallas-Fort Worth area employment (number in thousands)

Dec. 2023

2022 to Dec. 2023

Number Percent

Total nonfarm

4,357.6 134.2

3.2

Mining, logging, and construction

255.7

14.8

6.1

Ma nufa cturi ng

316.7

9.3

3.0

Trade, transportation, and utilities

935.3

13.5

1.5

I nforma ti on

95.7

1.1

1.2

Financial activities

387.0

16.3

4.4

Professional and business services

814.0

29.5

3.8

Education and health services

503.7

5.4

1.1

Leisure and hospitality

419.1

16.2

4.0

Other services

148.2

16.7

12.7

Government

482.2

11.4

2.4

Source: U.S. BLS, Current Employment Statistics.

Over-the-year change in the prices paid by urban consumers for selected categories

12-month percent change in CPI-U, November 2023

6.0 5.2

5.1

4.0

3.1

2.9

2.0

0.0

-2.0

-4.0

-4.0

-6.0 All items

Food

-5.4 Energy

Dallas-Fort Worth area

U.S. city average

Source: U.S. BLS, Consumer Price Index.

Over-the-year changes in the selling prices received by producers for selected industries nationwide

12-month percent changes in PPI

40.0

30.0

20.0

10.0

0.0

-10.0

-20.0

-30.0

Dec-20

Dec-21

General freight trucking

Dec-22 Hospitals

Dec-23

Air transportation Source: U.S. BLS, Producer Price Index.

Average annual spending and percent distribution for selected categories

Average annual expenditures, United States and

Dallas area, 2021-22

100% 80% 60% 40%

$10,331 $9,099 $5,204 $8,755

$12,568

$12,168 $8,308 $5,651 $8,818 $11,645

20%

$25,975

$23,462

0%

Dallas area

United States

All other items

Personal insurance & pensions

Healthcare

Food

Transportation

Housing Source: U.S. BLS, Consumer Expenditure Survey.

Average hourly wages for selected occupations

Occupation All occupations

Dallas-Fort United Worth area States

$29.41 $29.76

Human resources managers

66.61 70.07

Accountants and auditors

43.06 41.70

Registered nurses

42.24 42.80

Construction laborers

18.68 22.29

Retail salespersons

16.19 16.70

Cooks, fast food

12.61 13.43

Source: U.S. BLS, Occupational Employment and Wage Statistics, May 2022.

Employer costs per hour worked for wages and

Over-the-year changes in wages and salaries

selected employee benefits by geographic division

Private industry,

West South United

12-month percent changes in ECI

September 2023

Central (1)

States

7.0

Total compensation Wages and salaries Total benefits Paid leave Vacation

$36.22

$41.53

6.0

26.42 9.80 2.53

29.34

5.0

12.19

3.09

4.0

1.30

1.59

3.0

Supplemental pay

1.38

1.55 2.0

Insurance

2.25

3.04

Retirement and savings

1.03

1.41

Legally required benefits

2.61

3.11

(1) The states that compose the West South Central census division are: AR, LA, OK, and TX. Source: U.S. BLS, Employer Costs for Employee Compensation.

1.0

0.0

Dec-20

Dec-21

Dallas-Fort Worth area

Source: U.S. BLS, Employment Cost Index.

Dec-22

Dec-23

United States

Southwest Information Office ? BLSinfoDallas@ ? ? 972-850-4800

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