In terms of employment, Texas has been doing fairly well over the last couple of years due to multiple reasons. The first being its low cost of land and low taxes that encourages organizations to establish businesses here. In Dallas, the energy sector provides employment to a large number of people but for the last two months job growth has slowed in different segments of the industry.
At this point in time, due to migration of individuals, families and businesses to this part of the country, an immense amount of construction work is required. The encouraging part is that the trend has just started. Economists expect a number of industries to relocate or open new ventures in Texas because of the growth prospects it offers. Although, the job growth declined in many states, Texas enjoys the third highest job growth rate in the country.
The process functions in a cycle where better employment and education opportunities attract more people, which in turn introduces a large number of diversified businesses and consequently more jobs, are created. But for the whole process to function effectively and at a fast pace, the setups and accommodation arrangements have to be really quick. For this reason, the real estate industry in Dallas continues to develop at not only a rapid pace but also with appreciating property value. Construction plays the most vital role in settlement not only for real estate but is a prime factor for business growth as well.
While job vacancies in other departments may fall with the passing months, recruiters constantly need a growing number of construction workers. For people of the relevant field, Texas could serve as the land of opportunity as the work is nowhere close to its completion. Since, the number of people continues to increase in this land of opportunity; the need for healthcare facilities is also on the rise. Therefore, there are tremendous prospects for healthcare personnel.
In the month of May alone, Texas added 19,500 new jobs. If progress continues, it is expected that all the states would reach an unemployment rate of below 8% within the next four to five years. The current trend is beneficial for recruiters as there are thousands of people coming to settle from different cities and counties. A large number of these people are dedicated to make a career and are loyal to the work they find. Also, with the number of universities increasing, more and more graduates enter the state each year which offers more variety for recruiters and magnificent candidates.