Although we are not out of the woods yet it appears that the Austin area economy has weathered the pandemic well. According to a recent article in the Austin American Statesman the Austin area, which are the counties of Travis, Williamson, Bastrop, Caldwell, and Hays, has added thousands of jobs to bring the unemployment rate to 5.1%. This figure isn’t that bad even in good times but it is well above the unemployment rate of 2.2% that was recorded in April. The unemployment rate for Texas is about 6% meaning that the Austin area is recovering, at least for the time being, quite nicely.
Why are we doing so well? The same answer as always, but I never tire of repeating it: corporate relocations and expansions which in turns brings us a new crop of citizens and creates jobs which in turn creates even more jobs. Isn’t this fun! Austin is also a hub for government jobs and higher education. Additionally, because the Austin area has a large number of jobs where employees can work remotely these folks were able to stay employed – just like our ALPS Team.
Let us all hope that the vaccine that looks very promising and soon to be delivered will get us all back to the “real normal” and we all look forward to a national mask burning holiday.
My sincere wishes for each of you to remain safe and to have a very special Thanksgiving.
Rick Ebert / 24 November / Austin, Texas