Three takeaways from strong November jobs report

The final jobs report of the calendar year points to an economy entering 2016 with solid tailwinds that should help knock down the unemployment rate further next year.

Employers added a better than expected 211,000 new jobs in November and the jobless rate held steady at 5 percent, the Labor Department said Friday.

“Job growth is strong and steady,” said Mark Zandi, chief economist of Moody’s Analytics. “Full employment is fast coming into view.”

Here are three important takeaways:

Job growth broad

Economists cheered both the revisions to October numbers and hiring gains across most sectors. October’s strong 271,000 number was revised upward, with the government now saying it was actually 298,000. It means there is momentum in the jobs market into 2016.

Incumbents’ windfall

The party holding the White House tends to benefit when the economy is strong. Absent unforeseen events on the global stage, the economy is expected to further improve next year. Hiring is solid and accelerating as the nation readies to select a new president.

3-2-1 liftoff

Two solid months of hiring gives the Federal Reserve room later this month to finally raise its benchmark interest rate for the first time in almost a decade. The action, expected on Dec. 16, is dubbed “liftoff,” since it will begin a slow years-long upward climb in lending rates across the economy.

Read more from the Star-Telegram

Mary Kay picks Lewisville for $100 million research, manufacturing plant

Cosmetics firm Mary Kay Inc. said Tuesday that it will build its $100 million manufacturing and research complex in Lewisville.

The direct sales firm recently decided it needed to replace its almost 50-year-old plant in northwest Dallas.

The company said it looked at locations around North Texas before picking Lewisville.

Mary Kay said it has identified a location but hasn’t yet purchased it.

Read more on the Dallas Morning News

The past 12 months have been stellar for Austin’s unemployment rate

It’s official: Austin’s monthly unemployment rate has remained under 4 percent for an entire year. New unemployment numbers show the region’s jobless rate essentially holding steady in the low three percent range.

The latest jobs report from the Texas Workforce Commission, released Friday, shows that Austin’s unadjusted unemployment rate held steady in October at 3.3 percent for the second-straight month, down from 3.8 percent in October 2014.

Read more from the Austin Business Journal

Charles Schwab to build corporate campus near Perot’s Circle T Ranch development

San Francisco-based Charles Schwab (NYSE: SCHW) could open up a massive operations center on a corporate campus planned adjacent to Circle T Ranch, a 2,500-acre mixed-use, master-planned development in Westlake.

The financial services company is expected to buy 74 acres of land adjacent to the Circle T Ranch from Hillwood by the end of the year, according to real estate sources.

“We’re very interested in the Dallas area for future growth and have signed a lease in the Westlake area that can accommodate up to 500 employees,” said Sarah Bulgatz, a spokeswoman for Charles Schwab, in an email to the Dallas Business Journal. Bulgatz declined to comment concerning speculation about future real estate deals involving Charles Schwab.

Read more on the Dallas Business Journal

California lost 9,000 business HQs and expansions, mostly to Texas, 7-year study says

Roughly 9,000 California companies moved their headquarters or diverted projects to out-of-state locations in the last seven years, and Dallas-Fort Worth has been a prime beneficiary of the Golden State’s “hostile” business environment.

That’s the conclusion of study by Joseph Vranich, a site selection consultant and president of Irvine, California-based Spectrum Location Solutions.

Read more on the Dallas Business Journal

ADP says Texas added 17,200 private jobs in October

Texas added slightly more private-sector jobs in October than the previous, which could mirror an uptick seen nationally, according to a report released today by payroll processor ADP.

It estimates that Texas added 17,200 private-sector jobs, up from a projected 14,300 jobs in September. Private jobs make up the lion’s share of all jobs in the economy.

The state ranked second to California’s estimated 23,100 new jobs in October.

Read more on the Dallas Morning News

Labor market back on track in October, fueling chances of interest rate hike

October saw the labor market return to form after a two-month slowdown, adding 271,000 net new jobs across industries. This brought down unemployment to 5 percent, the lowest rate seen during the recovery so far.

Notable over the past few months has been a rise in wages in an otherwise low-inflation environment, which will boost GDP personal expenditures in the coming quarters. Wages have risen by 2.5 percent, greater than the increase in jobs (2.0 percent) and prices (no growth).

Similarly, bachelor’s degree-holder unemployment of 2.5 percent means that companies are actively recruiting talent, giving workers improved confidence.

These improvements in fundamentals are also boosting the chance of an interest rate hike by year-end, as the economy continues to approach the Federal Reserve’s targets.

For a thorough analysis, click on SlideShare.

FedEx Office CEO eyes future growth of Plano campus as 1,200 employees settle into new home

When FedEx Office CEO Brian Phillips wanted to add to the Plano-based retailer’s bottom line, he decided to start at home.

Now, more than 1,200 employees of FedEx Office, a subsidiary of Memphis-based FedEx Corp.(NYSE: FDX), are working under the same roof and Phillips said he expects more corporate collaboration that will ultimately support the firm’s 1,800 stores.

FedEx Office CEO eyes future growth of Plano campus as 1,200 employees settle into new home – Dallas Business Journal

“This is going to be our home for a long time and we expect to continue growing in Plano as we add new stores,” Phillips, who is the president and CEO of FedEx Office, told the Dallas Business Journal.

Even though FedEx Office has only been in its new home for a month, Phillips said the company has positioned itself for growth and even as a corporate campus growth plan.

The company has enough room its new 265,000-square-foot headquarters building at 7900 Legacy Drive — which was expected to cost more than $40 million to develop — to add another 100 employees.

Read more on the Dallas Business Journal

ADP says Texas gained 18,100 private-sector jobs in August, more than in July

Texas added 18,100 private-sector jobs in August, according to a a new report by payroll processor ADP.

The state ranked second to California’s estimate of 32,300 new jobs last month. Still, the forecast for Texas was higher than ADP’s estimate of 15,500 private-sector jobs in July, but slightly under June’s prediction of 18,500 jobs.

Read more on the Dallas Morning News

How a financial industry giant is quietly growing its Austin empire

Charles Schwab Corp. (NYSE: SCHW) is moving forward with plans to build a dedicated campus for employees in North Austin starting with about $14.5 million in renovations at the so-called “Tivoli Building,” which it purchased nearly a year ago.

The acquisition, which closed in August 2014, included the mid-rise Tivoli office built in 2000, a 500-space parking structure and 60 acres that eventually will be developed. IBM Corp. was the seller of the property located near the Top Golf facility at Burnet Road and Esperanza Crossing.

Read More Here on the Austin Business Journal