The Dallas-Plano-Irving metro area was notably absent from RealPage’s list of top 10 markets for job creation in July. It is only the second time since the end of the pandemic that Dallas has not been in the top 10.
Dallas ranked 12th in July with 22,200 new jobs for the year, the lowest annual job gain figure for Dallas since 2010, placing it just behind Salt Lake City and just ahead of Miami, RealPage said.
Workforce reductions in the manufacturing and professional/business service sectors are largely responsible for the market’s slower job growth, mirroring a broader trend across the country. Prominent employers in Dallas, including IBM, FedEx, Allied Aviation Fueling and TT Electronics, have all paused hiring or implemented layoffs in response to uncertain economic conditions, according to RealPage.
Elsewhere, many top markets continue to see solid job growth despite weakening employment growth nationally in July. New York led all major markets for employment gains with 129,800 new jobs for the year ending in July, up more than 30,000 jobs from June’s annual total. Philadelphia gained 65,300 jobs and Houston added 62,600. Charlotte and Los Angeles rounded out the top five with 38,700 and 33,500, respectively.
In sixth through tenth place were San Antonio at 28,500 new jobs, Phoenix with 28,400, Chicago and Detroit with 26,800 each and Orlando with 26,700.
All together, the top 10 markets added 467,100 jobs for the year ending in July, up 69% from last July and 111,000 more than last month. Metros ranked 11 through 20 added 208,200 new positions, an increase of 5%. New York was the only metro to gain more than 100,000 jobs.
Meanwhile, 19 of RealPage’s top 150 markets reported annual employment losses, including the Bay Area and several markets in the Midwest and Northeast, such as Washington, D.C., Milwaukee, Madison, Atlantic City and Des Moines. Two markets posted no change.
Myrtle Beach, South Carolina, retained its spot at the top of RealPage’s employment growth list with a 6.2% increase in jobs. The college towns of College Station, Texas; Fayetteville, Arkansas; and Charleston-North Charleston, South Carolina, remained in the top four with growth ranging from 3.5% to 4.9%. Boise City, Idaho, and Columbia, South Carolina, tied for fifth with 3.3% growth in jobs. Greensville, South Carolina; Salem, Oregon; Charlotte, North Carolina; and Albuquerque rounded out the top 10.
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