IHS Global Insight released a report today that shows Texas will lead the nation in job growth in the years to come. They estimate that Texas will expand job growth by 1.8% next year which will tie them with Nebraska for the number one spot among states. Because the Plano area is one of the leading job growth areas in the state, Plano and the surrounding communities will certainly be leaders in the job growth market. This bodes well for Plano home values and Plano real estate.
The report does caution that the recovery from this past recession will be a slow and lingering process. Unemployment numbers are expected to be above historical averages for some time to come. IHS Global expects the state jobless rate in Texas to remain above 6% for the next 4-5 years. This would translate to a Plano area jobless rate in the 5s.
Texas has regained some 145,000 of the more than 350,000 jobs lost last year. It is expected that the Plano area will continue to be one of the states top job growth areas.
Jim Diffley of IHS Global also pointed out that Texas is expected to one of four states that will reach pre-crisis payroll levels by the end of next year. He maintains that Texas leads the nation in may factors.
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