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What I Love About Austin ~ The Economy

Tuesday, June 26th, 2018 at 3:10pm Engel & Völkers Austin

What I Love About Austin ~ The Economy

Austin’s economy has been booming for years.  It’s not hard to find a job in Austin, regardless of your education, training and background.  Austin was ranked 7th in the nation, in unemployment statistics, by the Bureau of Labor Statistics with an unemployment rate of 2.7%.  This was only ½ percentage point from the number one city in the US!

Austin’s economy is very diverse and resilient, according to a recent article in the Austin American Statesman.  “Central Texas has become one of the most digitalized job markets in the country.” Stated Dan Zehr, in the article. And, “Austin is nowhere near its ceiling and job creation should continue to grow faster than most large U.S. metros.

Patch.com  stated in a recent article that, “Austin Has Strongest Metropolitan Economy In America: Report”.  “Austin has the strongest metropolitan economy in the nation, according to a newly released study that examined two dozen metrics over a 20-year period”, the article went on to state.

In The Austin Business Journal’s article, “More growth, hiring expected in Austin economy in 2018, but challenges abound”, they predicted continued, “low unemployment” and, “improvements in per-capita income”.

Statista.com shows Austin ranked  6th in the nation in household income, among the most populated U.S. cites.  The median household income in Austin is $66,697, above any other city in Texas.

Forbes has consistently ranked Austin as one of the best places in the U.S., in several categories.  Their article, The Best Places For Business And Careers, ranks Austin #8.  With a metro population in excess of 2 million, a Gross Metro Product of $124.4 Billion, median home price of $294,900, and 3.9% Job Growth, Forbes states that “The city has a heavy concentration of highly-educated millennials.” And is, “home to the headquarters for many technology corporations, adopting the nickname, Silicon Hills, in the 1990’s.  The major industries, “Technology, Pharmaceuticals and Biotechnology”.

There are truly so many reasons to love Austin.  The weather, the people, the activities, the music and concerts, the outdoors, the food.  I could go on and on.  But I live here and I love Austin for everything it has to offer, including the economy.

The wrap is that Austin is the complete package. It has an abundance of outdoor activities, live entertainment, a unique personality and is a great place to raise a family.  With a great outlook for the future in the economy and jobs.

 

 

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