According to the Bureau of Labor and Statistics, Texas has the second-largest job gains in the country, behind only California with over 56,600 in October 2021, with an overall unemployment rate falling to 5.4 percent.
There’s no doubt that overall, there are many growth opportunities available in the Lone Star State. But Texas is massive, so if you’re considering a move, you’ll want to look at the specific job markets in the areas you’re contemplating, whether you’re thinking about searching the houses for rent in San Antonio or buying a home in Dallas, Austin, or anywhere else.
Famous for its River Walk and The Alamo, San Antonio boasts a relatively low cost of living and unemployment rate, at 4.8 percent as of August 2021. The city also enjoys 300 days of sunshine a year and close proximity to Texas Hill Country with its scenic landscapes, outdoor adventure, and wineries.
The metro area has had a strong recovery after losing many jobs during the pandemic, with its unemployment rate peaking at 11.6 percent. But its robust Professional and Business Services industry actually gained jobs. From July 2020 through July 2021, the biggest job gains came in leisure and hospitality, though trade, utilities, and transportation also added a significant amount.
The diverse economy in San Antonio includes technology, automobile manufacturing, oil and gas, higher education, tourism, and a large military presence.
Just 80 miles from San Antonio, the Texas capital also provides easy access to Hill Country and has experienced a huge boom in growth. It offers one of the state’s most promising job markets, triple that of New York and four times that of San Francisco. Austin has added more jobs over the last 18 months, making up for all pandemic-related losses, and now ranks among the best performing major job markets in the country over the last year.
The unemployment rate was at 3.8 percent in August, the lowest since the start of the pandemic. The economy here is based on medicine, education, and technology, but it offers a wide range of opportunities in many different industries.
The Dallas Morning News recently reported that the Dallas-Fort Worth area ranks as the top labor market in the country based on data analysis by Think Why, driven by job growth, wage growth, and net migration. Its report revealed that all four of the major metro areas in Texas were expected to remain top performers for an extended period.
Companies in Dallas-Fort Worth and Northern Texas overall have claimed 22 spots on the 2021 Fortune 500 list. That includes McKesson, the pharmaceuticals distributor based in Irving that played a vital role in moving vaccine supplies across the U.S.
Others in the greater Dallas area include American Airlines, Southwest Airlines, and Tenet Healthcare. Some of the leading industries in Dallas are finance and technology, drawing many younger professionals.
Home to some of the largest companies in the U.S. and often acclaimed as an outstanding place for entrepreneurs to live, Houston is a major center for oil and gas, healthcare, and manufacturing. The ThinkWhy report listed it at No. 8 overall in a list of the country’s top-performing labor markets.
The Great Houston Area scores exceptionally high in job gains and net migration. The Bayou City is expected to fully recover all jobs lost due to the pandemic by 2023.