According to an article in the Dallas Business Journal on Friday (http://www.bizjournals.com/dallas/news/2011/11/18/texas-adds-13500-jobs-to-private.html?ana=handmark), Texas added another 13,500 jobs in October on top of the 200,000 already created in 2011 so far. That makes 18 months of job growth in Texas. That puts the unemployment rate at 8.4% - down from 8.5% just a month earlier. That's a bit better than the national average of 9%.
Does this feel real to you?
I am seeing a lot of small companies being created. Often this is from people who had previously been employed and have decided to start their own company now. It seems this always happens during an economic downturn. Big companies aren't hiring so people strike out on their own. Nothing gets you in an entrepreneurial frame of mind like no income.
Jobs are what drives the economy. In my business as a Corporate Real Estate Advisor (Tenant Rep), companies only lease more office space when they are hiring. If they lay people off, they put their space on the sublease market. They also often very uncertain about the future of their businesses and are reluctant to sign a normal 5-year lease. I have seen a lot of 1- and 2-year lease extensions done in the last few years.
How has your business been impacted by the change in the employment picture?
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