Dallas Area Employment Market Snapshot: November 2024
A new year is on the horizon, and many Dallas workers are ready to jump ship for new job opportunities. Unemployment continues to decrease in our area, and salary transparency is still at the forefront of those seeking work. Yes, we’re still talking about AI! But human work skills aren’t going anywhere any time soon.?
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Local Data Impacting Our Employment Market:?
Gen Z is flocking to Texas over any other U.S. state, and the reasoning probably doesn’t surprise anyone. “It all comes down to jobs.” A recent analysis conducted by Zillow found that Texas is attracting the largest number of Generation Z movers nationwide. Employment opportunities continue to abound throughout Texas, making it an ideal starting point for young professionals embarking on their careers. (Texas Association of Business)
Employees are looking for new jobs as the new year approaches. Managers are seeing post-election tensions among their employees, which could lead to some workers leaving for other job opportunities. The Dallas Business Journal is examining why job-hopping could accelerate among professionals next year.?(Dallas Business Journal)
According to the most recent Texas Employment Forecast, the unemployment rate decreased in Dallas, Plano, Irving, Fort Worth, Arlington, and San Antonio. “Texas employment growth was strong again in September, adding 33,800 jobs. Employment growth has normalized to a rate more consistent with trend growth.” (Federal Reserve Bank of Dallas)
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National News Impacting Employment and Hiring:?
In a recent Aerotek job seeker survey, 46% of respondents said they are more likely to explore new job opportunities in 2025 than they were in 2024. Job seekers are optimistic about the new year, and many are eager to advance their careers and take advantage of new openings. (Aerotek)
Salary transparency is still a hot topic in Q4. Compared to a year ago, the share of salary-transparent listings grew in 43 of 46 sectors analyzed by Indeed — often by large margins. However, the pace of pay transparency growth in 2024 has slowed compared to last year.The labor market has slowed and competition for workers has eased somewhat, potentially leaving employers feeling less urgency to attract candidates by stating pay information directly in job postings. (Indeed Hiring Lab)
Yes, we are still talking about AI, and likely will be for the foreseeable future! While some approach AI with an eye roll, human work skills won’t be easily replaced in the workforce any time soon. Of the more than 2,800 unique work skills identified and assessed by Indeed, none were found “very likely” to be replaced by generative artificial intelligence. Despite rapid advances in generative artificial intelligence (GenAI) technology and fears of an impending mass displacement of human workers, human work skills won’t be easily replaced in the workforce any time soon. (Indeed Hiring Lab)
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