Develop Austin Texas

The monthly Texas Economy Review, from the Real Estate Center (at Texas A&M University) uses employment data, by area and industry, to rank growth and economy health throughout 26 metro areas in the State of Texas.

The data places Austin-Round Rock as 5th for employment growth, and ahead the state average. The report also places Austin-Round Rock as 9th lowest unemployment rate, almost a full percent below the state average.

The reason for some of these numbers may be behind what industries are hiring: the government sector, for one, added 40,600 jobs in the past year. With the capitol being in Austin, the State of Texas was already Austin’s biggest employer (followed by the 5th largest employer, the US Government; the 6th largest employer, the City of Austin; and the 13th largest, Travis County).

59,000 jobs were added in health care and social assistance. Four of Austin’s top 25 employers are healthcare networks or hospitals, including Seton, the largest non-profit healthcare network in Texas. Also gaining 3,000 jobs in the past year is the arts/entertainment, recreation, accommodation and food service industry.

While Texas has experienced a negative job growth of 2.6%, it has fared better than the rest of the nation’s loss of 4.2% of non-farm jobs. Austin, with a negative job growth of 0.2%, is one of the first and largest areas to show strong signs of recovery, and continues to be a great area to invest in.