The national seasonally-adjusted unemployment rate for Hispanics and Latinos in the U.S. labor force fell to a record low of 4.2% in April, U.S. Bureau of Labor Statistics data released Friday show. In April, the unemployment rate for Hispanics and Latinos, aged 16 and up, was 4.2%, down from 4.7% in March – breaking the record low of 4.3% set two months earlier in February. BLS began tracking Hispanic-Latino employment data in 1973. The number of unemployed Hispanics fell to 1,198,000 - the fewest unemployed since August of 2007 (1,190,000) and a decline of 165,000 from 1,363,000 in March of 2019. The number of Hispanics participating in the workplace increased as Hispanics' labor force participation rate fell to 65.9% from 67.0% in March.
American Airlines is beefing up its flight attendant base in North Texas as the carrier strives to reach its goal of 900 daily departures from Dallas Fort Worth International Airport. American Airlines Group, Inc. will add 700 flight attendants to each of its bases in North Texas and Los Angeles, and move 700 employees from the Phoenix area, a company spokesperson said. US Airways was based in the Phoenix area before merging with American in December 2015. Being "based" in a particular region means that's where flight attendants trips begin and end. There are already 5,700 flight attendants' based in DFW, so with the additions American will grow its flight attendant base at its largest hub by more than 12 percent.
299 California companies have moved to Texas
A group of Texas business leaders is traveling this week to the state's favorite place to lure away companies: California.The three-day trip to San Francisco is the latest effort by Texas to snag corporate offices, company headquarters and jobs from its West Coast rival. For years, California has been a favorite punching bag of Texas politicians who describe the Lone Star State as a refuge from California's burdensome regulations, hefty taxes and higher cost of living. The delegation is led by the Texas Economic Development Corporation.
Most of the 299 companies that have uprooted their California headquarters for Texas have landed in Dallas-Fort Worth in recent years. Toyota opened its new North American headquarters in Plano in 2017. McKesson, the nation's largest pharmaceutical distributor, moved its headquarters from San Francisco to Irving. Jamba Juice moved to Frisco. Jacobs Engineering moved to Dallas. Frozen food manufacturer Pegasus Foods moved to Rockwall. And Kubota Tractor moved to Grapevine.
Dallas-Fort Worth led the nation's metro areas in job growth in 2018, according to new data from the Bureau of Labor Statistics. The DFW region added 16,400 jobs over the course of the year. New York and Houston followed closely behind, with 115,500 and 108,300 new jobs. Cheryl Abbo, regional economist for BLS's Southwest office, said D-FW's showing is "somewhat unusual" on a national scale, especially considering the size difference between it and New York. D-FW has about 7.4 million people, compared with New York's 8.6 million. A handful of large companies moved workers and expanded operations in the region in 2018, including Charles Schwab, Liberty Mutual, Cognizantand NTT Data. Two Fortune 500 companies — McKesson and Core-Mark— announced plans to move corporate headquarters from California to North Texas this year. The Federal Reserve Bank of Dallas recently forecast a slowing in this year's employment gains, with the region expected to add 113,671 jobs.
DFW Area Unemployment Rate Now 3.3%, Population 7.7 Million
The Texas economy saw another month of low unemployment in December, a historic 43-year low that has continued since October, according to the Texas Workforce Commission. The DFW area unemployment rate dropped to 3.3%, with 127,000 net gain in jobs in the Dallas area for 2018. Texas has a net gain of 391,800 jobs, leading the nation in job gain.The demand is there for more job positions, but with the area tight labor market some jobs remain unfilled.
The D-FW area added more than 100,000 jobs in the year ended in March, according to preliminary figures from the Bureau of Labor Statistics. So far in 2018, D-FW has stayed near the top of the list of U.S. cities with the fastest-growing employment sectors. Job gains in North Texas have topped 100,000 a year for more than four years — an unprecedented economic boom. As long as companies keep bringing so many new jobs to the area, the real estate market will continue to thrive. Add to the jobs, the surge in population growth. Last year, D-FW grew by more than 146,000 people — more than any other major U.S. metro market. More than half of that population gain was from people moving to the area to fill all those newly created jobs.
- Dallas Morning News, May 4, 2018