Dallas Fed Launches 9th Regional Report for Fort Worth as City GDP Jumped 36%
Updated
Updated · Fort Worth Report · Jul 7
Dallas Fed Launches 9th Regional Report for Fort Worth as City GDP Jumped 36%
3 articles · Updated · Fort Worth Report · Jul 7
Summary
The Dallas Fed issued its first standalone Fort Worth economic report, adding a ninth bimonthly regional publication that separates the city’s data from Dallas for the first time.
May data in the debut report showed Fort Worth employment rising at a 1.6% annualized rate after 2.6% in April, while unemployment held at 4% and housing demand weakened.
Fort Worth’s three-month job growth reached 3.4%, with the city showing heavier exposure to trade, transportation and utilities at 23.9% of jobs and manufacturing at 9%—both above Dallas and Texas.
Home prices were flat at a median $355,000 in May, down 0.6% from a year earlier, while average hourly wages slipped to $37.23 but remained 3.4% above year-ago levels.
The separate report reflects Fort Worth’s rapid expansion: local officials cited more than $10 billion in capital investment and 11,000 new jobs in two years, and the city recently became the nation’s 10th-most populous.