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More positive growth for Texas economy

Posted on : 25-08-2010 | By : Sumina | In : Austin, Education

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Even though the doom and gloom continues for the rest of the nation, our data shows that things are turning around for Austin. If you’ve been reading my blog, you know that in my opinion, although Texas and Austin were definitely hurt by the economy, we were no where near as bad as some other places in the nation, and now it seems we are on our way back to recovery.

It isn’t going to be an easy road, but this Monthly Report from the Real Estate Council Association is a good source of information. The most important take-aways for me?

  • After 16 months of job losses, Texas had it’s third positive month of positive job growth
  • The seasonally adjusted unemployment rate in Texas rose from 7.9 percent in July 2009 to 8.2 percent in July 2010, while the U.S. rate increased from 9.4 to 9.5 percent over the same period.
  • Nineteen Texas metro areas had positive employment growth rates from July 2009 to July 2010, up from 16 for the period from June 2009 to June 2010. San Angelo ranked first in job creation, followed by College Station-Bryan, Austin-Round Rock-San Marcos and McAllen-Edinburg-Mission.

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Sumina’s take away: If you’re in another part of the nation, struggling to find a job, take a look at what Austin has to offer. (the answer is a LOT). Low cost of living, job growth in multiple industries, and a great quality of life with warm weather for most of the year.

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