Austin Unemployment Rate Nears Perfection
Austin's unemployment rate dropped to 5.2 percent last month, according to the Texas Workforce Commission. This indicates a decline from 5.6 percent the previous month, and also down from the 5.9 percent rate this same time last year.
Economists estimate that a healthy unemployment rate ranges from 4 to 6 percent. If the rate drops below 4 percent, economists warn that this can indicate inflation due to upward force on salaries. If the rate hovers over 6 percent, unfortunately it can tend to affect consumer economic spending. Austin is within the "perfect" range as it continues to remain in the healthy zone.
Austin's unemployment rate is well below the national average at 7.3 percent. The state of Texas' unemployment is also higher than the local rate at 6.4 percent.
The Austin area spanning from Round Rock to San Marcos currently has approximately over 51,000 unemployed workers according to TWC numbers. It's an increase from the previous month, however a decline from this same time last year.
Texas has added over 26,000 new positions in the last three months. Job industries that have increased the most include the mining and logging industries. Over 2,900 positions in the professional and business services have been added in the state during the month.
If you or someone you know is interested in a career in the growing real estate industry, then Cain Realty Group with Keller Williams Realty encourages you to contact our office to speak with one of our knowledgeable agents about possible career opportunities in the Austin market as well as other markets across the country. Our team can help guide you towards the steps you can take in order to move towards an exciting career in real estate.
If you are interested in any opportunities working directly with Cain Realty Group at Keller Williams Realty, then please check out the Meet our Team page on our website, and feel free to contact us with your employment interests.