Demolition Company Dallas
JR Demolition is an essential business providing demolition services to the DFW area and beyond. We are one part of the important Texas economy
that is quickly recovering from the recent COVID-19 pandemic. Read below for an excerpt from the Federal Reserve Bank of Dallas on DFW's economic indicators.
July 24, 2020
–Fort Worth economy saw further signs of a fledgling recovery in June. Payrolls expanded strongly, and the unemployment rate fell. However, high-frequency data point to a slowing in DFW economic activity since late June that is synchronous with rising new COVID-19 cases and hospitalizations. Apartment and office leasing activity was sluggish in the second quarter due to weak demand, while industrial leasing remained solid.
Payrolls Expand, Unemployment Dips
DFW employment grew a nonannualized 2.6 percent (91,500 jobs) in June following a 2.1 percent increase in May (Chart 1). Payrolls rose a nonannualized 2.4 percent (60,200 jobs) in Dallas and 3.1 percent (31,300 jobs) in Fort Worth. Job growth in DFW surpassed the state’s 1.5 percent nonannualized increase last month. Through June, payroll employment in DFW is down a nonannualized 5.5 percent because of job losses resulting from the COVID-19 pandemic and related stay-at-home orders.
Industrial Demand Remains on Track
Leasing activity for industrial building
space continued to be solid in the second quarter, driven by demand from consumer goods, e-commerce and third-party logistics firms, according to CBRE. Net absorption was just over 2 million square feet, pushing the total for the first half of the year to 8.2 million square feet, roughly on par with midyear 2019 absorption of 8.7 million square feet (Chart 6). The vacancy rate edged up to 5.9 percent, remaining well below its historical average. Construction stayed elevated at 23.2 million square feet, of which only 19.2 percent was preleased.