Wednesday, August 09, 2017

Dallas-Fort Worth job market sizzling, but not as hot as these places

Hiring continued its summer streak in Dallas-Fort Worth, rising more than 20 percent over July 2016, but DFW is losing workers to a handful of cities with even hotter job markets.

DFW gained the most workers in the last 12 months from Houston, Chicago and Los Angeles, but lost workers to Seattle, Denver and Colorado Springs, according to this month’s LinkedIn Workforce report.

Of people leaving DFW in the past year, more went to Seattle than to any other city. And of all people moving to DFW, more came from Houston than from anywhere else.  

Why are workers trading their Texas tans for coffee, rain and grunge?

“The places that Dallas is losing talent to are the hottest talent magnets in general in the country,” said Guy Berger, economist for LinkedIn. “It doesn’t mean anything negative about Dallas. Those places are attracting talent from everyone. Everybody is moving to Seattle right now.”

For every 10,000 LinkedIn members in DFW, 1.4 moved to Seattle in the past 12 months. DFW lost 1.3 people to Denver and 0.4 people to Colorado Springs in the same period.

For every 10,000 of the business networking site's members in DFW, 3.8 moved from Houston in the past year. By comparison, 3.4 people moved to the Dallas area from Chicago, which ranked second on DFW’s list of migration gains, and 2.9 people moved here from Los Angeles.

Berger chalked up the transplants from Houston to Dallas’ superior economy.
“Even though Houston is rebounding a little from the small recession or near recession it had after the collapse of oil prices, Houston’s economy is still not as good as Dallas’ is,” Berger said.

DFW’s relative housing affordability plays into the move-ins from the Los Angeles area, and the ongoing migration from Rust Belt to Sun Belt states helps explain the Chicago inflow, he said.

Overall hiring in Dallas-Fort Worth in July rose 20.3 percent over July 2016, outpacing the national average of 17.3 percent.

That’s good news for workers, but it can make it tough for employers to fill key positions, Berger said.

“We’re getting closer to full employment each month,” he said. “Companies face more pressure to expand business while at the same time, it’s harder to find people. You’re going to see more quitting as employees jump from place to place to get better pay, and that means that companies have to fill those openings.”

Demand for mental health and psychotherapy skills has risen in Dallas and Houston since the beginning of 2017, and in the country’s other biggest cities including San Francisco, New York City, Los Angeles and Chicago.