D ECONOMY: ECONOMIC INDICATORS (January 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.

CITY OF DALLAS LABOR FORCE AND EMPLOYMENT (PERSONS)


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

CITY OF DALLAS UNEMPLOYMENT RATE


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 December 2016 increased to 3.7 percent. The rate reflects a 510 person decrease in the size of the city’s labor force with a 1,654 person decrease in the number of employed Dallas residents.
        • December was the 22nd consecutive month that the reported unemployment rate within the City of Dallas has outperformed the state’s unemployment rate.

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CITY OF DALLAS HOUSEHOLD EMPLOYMENT


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

              • The preliminary December 2016 count of employed Dallas residents as reported by the Texas Workforce Commission decreased to 653,423 (-0.25 percent).
              • The reported total was a 1,654-worker decrease from the previous month’s revised household employment level of 655,077.

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ECONOMIC GROWTH WIDESPREAD ACROSS METROPOLITAN AREAS IN 2015

Source: US Bureau of Economic Analysis, September 2016

                                                            • Real GDP increased in 292 of the nation’s 381 metropolitan areas in 2015.
                                                            • The Dallas-Fort Worth-Arlington MSA ranked 5th in the nation in total real GDP, with a 2015 growth rate of 3.6%.
                                                            • Contributing most to the 3.6% real GDP increase in the Dallas-Fort Worth MSA was the professional and business services sector, reporting a $4.1 billion increase over 2014 (+7.5%).

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DALLAS-FORT WORTH MSA CONSUMER PRICE INDEX

Source: US Bureau of Labor Statistics, November 2016; 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 0.37 percent from November to January 2017. Over the same time period the U.S. consumer price index increased by 0.62 percent.
                                                                                  • The Dallas-Fort Worth core index (price growth less food and energy) increased by 0.10 percent over the two-month period, while the U.S core index increased by 0.34 percent.
                                                                                  • In general, inflation remains muted due to a combination of continued wage stagnation, low oil prices, and weaker than expected GDP growth during 2016.

THE CONFERENCE BOARD CONSUMER CONFIDENCE INDEX®

Source: The Conference Board, November 2016; 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 are reflected in the current lowering of consumer expectations.

FEDERAL HOUSING FINANCE AGENCY HOUSE PRICE INDEX Q4 2016

Source: Federal Housing Finance Agency, Quarterly House Price All-Transactions Index, 100 Largest Metropolitan Statistical Areas, 2016; Dallas Office of Economic Development, 2016. 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 1.71 percent during the fourth quarter of 2016. Over the same time period, home prices for the entire USA rose 0.80 percent.

MEDIAN SALE PRICE OF EXISTING SINGLE-FAMILY HOMES – Q4 2016


Source: NAR, February 2016. http://www.realtor.org/topics/metropolitan-median-area-prices-and-affordability/data

                                                                                    • 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 11.8% during 2016.

C2ER COST OF LIVING INDEX – Q4 2016


Source:  Council for Community and Economic Research, 2016. http://www.coli.org/

                                                                                                          • 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.