February 3, 2021
Dallas–Fort Worth’s economy ended 2021 on a healthy note. Payroll employment rose at a moderate clip, unemployment dipped, and the Dallas and Fort Worth business-cycle indexes advanced in December. Last year, the DFW economy recovered all jobs that were lost in spring 2020. However, COVID data took a turn for the worse as the omicron variant drove up case counts to new highs in mid-January. Dining out also fell below prepandemic levels in January. Demand for industrial space set a record last year, and office leasing activity improved in the fourth quarter, but overall demand remained subdued as tenants continued to downsize and/or reevaluate their space needs.
DFW employment rose an annualized 1.5 percent (4,700 jobs) in December, slower than November’s 9.9 percent (30,900 jobs) increase. Growth was mixed, with employment…