Austin TX - Just cruising along as the 10th fastest growing metro

Austin TX – Just cruising along as the 10th fastest growing metro

I just read the latest CenTex report. Yahoo!! Austin just added 32,700 net new jobs resulting in Austin’s ranking as the 10th fastest growing major metro area out of 50! Dallas took the #1 spot with 4.1% job growth. Austin finished #10 at 3.3% job growth and is out pacing 3 other cities in Central Texas – Fort Worth 2.9% (16th), San Antonio grew by 2.4% (21st) and Houston by 1% (#44). These are based on figures from March 2016 to March 2017.

It’s interesting to note that over the last 12 months, education and healthcare added the most jobs – 6,300. Transportation, warehousing and utilities were the fastest growing industry adding 1,100 jobs. The outstanding news is Austin manufacturing jobs exceeded 57,000 for the first time since 2014!

Data is not seasonally adjusted.

Source: U.S. Bureau of Labor Statistics, Current Employment Statistics

Based on public reports, more jobs are on the horizon. The Austin Chamber of Commerce states “Several companies recently announced new location or expansion plans in the Austin area including about 670 jobs.” The list includes Baylor Scott & White Healthcare, FlSports, Gerson Lehrman Group, Volition Rx and our home grown Yeti Coolers.” An interesting tidbit is the largest Texas private employer is…drum roll please…H-E-B that grocery store right near where you live!

According to the Austin Chamber of Commerce the demand for tech talent remains strong but the number one job postings in one month was for registered nurses! There may be fewer numbers of job openings than a year ago but 37,200 jobs in 1 month is worth bragging about!

Austin’s seasonally adjusted unemployment rate is 3.6% unwavering from February numbers. In 2016 at the same time last year the rate was 3.2%.

According to economist Neal Spelce, Austin has 2.1 million people in our 5-country metro area and is looking to surpass 3.0 million by 2030! Stand by Austin…be ready to adapt to change!

Keep in mind a quote from Jimmy Dean:

I can’t change the direction of the wind, but I can adjust my sails to always reach my destination!

As always, what’s going on in Austin and real estate information is brought to you as a courtesy by Dorie Dillard, Coldwell Banker United, your NW Austin Real Estate Consultant.

If you are thinking of buying or selling real estate in NW Austin I’d welcome the opportunity to discuss how I can help. I offer you hands on Professional guidance for all your real estate needs. Reach out to me at 512-346-1799 or dillard@reloaustin.com.

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