Wow! According to an article in the Austin American Statesman, the metro area added 7,800 jobs in June of this year. There are cities that don’t have that many inhabitants so I find the number quite impressive. Texas in general and the Austin area in particular continue to have a robust economy. Fueling this migration of jobs is the economic well-being of the state which touts no personal income tax, lots of room for expanding or starting a business, and a well-educated population in our major metro areas. So you might say that Texas and the Austin area are “user friendly” when it comes to job growth. Leading the charge in our area job growth in June was construction. Not a surprise here as the businesses coming here have to have buildings in order to function.
Of the 7,800 new jobs, 1,200 were in construction which many consider to be the backbone of middle income wages. Of course all this means that these wage earners have to spend their money somewhere and in turn this means that the service and hospitability sectors grow, which in turn creates more jobs for our area. And so the economic wheel continues to churn for our area. And all of this is good news for us investors or Austin area residential real estate.
Let the good times churn!
Rick Ebert / Austin, Texas / 23 July 16