A MESSAGE FROM PETE SESSIONS
Job growth in Dallas continues to outpace nation.
Payroll employment continued to grow in Dallas in the month of August at a faster pace than the rest of the nation. Since August of 2005, the number of jobs in the Dallas-Plano-Irving area has increased by more than 61,000 jobs.
“The entrepreneurial strength of Dallas County cannot be overstated,” said U.S. Rep. Pete Sessions. “In May of 2003, Congress passed major tax incentives for businesses to expand. Dallas-area businesses responded to those incentives more than any other part of Texas, if not the nation.” More than 136,000 jobs have been created in our area since the tax cuts were passed.
In the last 12 months, the number of jobs in Dallas County has increased at a 3.16 percent growth rate. In comparison, the annual growth rate of jobs in Texas has increased at 2.4 percent pace, while total employment in the U.S. has risen by just 1.3 percent.
Annual Growth Rate in Jobs
U.S. - 1.3%
Texas - 2.4%
Dallas County - 3.1%
Encouraging news on the job front continued with the most recent unemployment report. From March 2005 to March 2006, the Labor Department undercounted employment growth by 810,000 payroll jobs. Therefore, since the tax cuts were passed by Congress and signed into law by President Bush, a total of 6.5 million jobs have been created, instead of the 5.7 million as previously thought.
“This proves that the American economy is a job creation machine, leading the world in entrepreneurial opportunity for business owners, investors and employees alike,” Sessions said.