Austin No. 3 for Most Jobs Gained Since Recession

According to the Austin Business Journal, Austin is among 13 of the nation’s 100 biggest labor markets to have regained all of the jobs that were lost during the recession.

The Capital City is ranked the third most prosperous metro during that five-year span adding 37,900 private-sector jobs, according to the Business Journals’ On Numbers, which used preliminary data from the U.S. Bureau of Labor Statistics  data to compare 2011 private-sector employment levels against officials figures for 2006, the last full year before the recession’s onset.

For the Austin market, year-to-date from 2010 to 2011, is stronger. Closed home sales are up 5.2 percent, Pending sales are up 8.6 percent, and inventory of homes available is down 12.6 percent, which means fewer homes and more buyers.

With employment numbers like this and a lack of listings currently on the market, buyer are have to engage in multiple offer situations.

Monthly Review of Texas Economy-September 2011

Texas continues to outperform the United States in job creation. Texas gained 271,400 nonfarm jobs from August 2010 to August 2011, an annual growth rate of 2.6% compared with 1% for the United States. The state’s private sector added 284,200 jobs, an annual growth rate of 3.3% compared with 1.6% for the nation’s private sector.

Texas jobs created from August 2010 to August 2011 accounted for 21.1% of total nonfarm jobs created in the U.S.  Texas’ seasonally adjusted unemployment rate increased to 8.5% in August 2011 from 8.2 in August 2010.

The nation’s rate decreased from 9.6 to 9.1%.  All Texas industries except the information industry and the state’s government sector had more jobs in August 2011 than in August 2010.

The Austin-Round Rock-San Marcos metro area’s annual employment growth rate from August 2010 to August 2011 was 2%, ranking it 11th in Texas.   

Source: Real Estate Center @ Texas A&M University; http://recenter.tamu.edu/pdf/1862.pdf

Monthly Review of the Texas Economy - August 2010

Texas' economic recovery is strengthening. After 16 months of job losses, the state's economy experienced its third month of positive annual employment growth. The growth rate from July 2009 to July 2010 was 1.3 percent compared with a rate close to zero percent for the nation. The state’s private sector posted a positive annual employment growth rate of 1.2 compared with a zero percent for the United States.

The monthly report is by Ali Anari and Mark G. Dotzour. To read the entire report: http://recenter.tamu.edu/econ/