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Austin Texas Economy
Texas A &M came out with their monthly report on the Texas economy June 22nd. Here are some things from their report that stood out to me. You can visit their Real Estate center for full details.
Texas was reported to have gained 266,600 nonagricultural jobs from May 2016 to May 2017. That is an annual growth rate of 2.2 percent. This is higher than the nation’s employment growth rate of 1.6 percent.
Texas saw job growth in all its industries with the exception of the Information Industry which actually ended the 12 month period with less jobs. The mining and logging industry ranked first in job creation followed by transportation, warehousing, professional and business services, education and health services, leisure and hospitality, and financial activities.
Comparing that same period (May 2016-May 2017), Texas’ seasonally adjusted unemployment rate grew to 4.8 percent, up from 4.7 percent in May 2016. Whereas, the nation’s rate decreased from 4.7 to 4.3 percent.
Within that report, here are some interesting stats specific to the Austin – Round Rock area.
The area also ranked fifth in “Shares of Total Texas Jobs”, owning a total of 8.3440% of Texas jobs.
At the same time, it had the second lowest unemployment rate, 3.2%. That is more than 1% lower than the state and national rates.
Overall, I’d say Austin performed well.
I hope you found this interesting. As a Realtor, part of my job is keeping you informed.
If you know someone who needs help or advice with a real estate related situation, please have them contact me.
Keeping you informed,
Donna L Bovee
Team Price Real Estate
Price Commercial Real Estate