Business Immo, the real estate website
Market Beat

Austin : Office Snapshot - Q4 2013

Published on

A research produced by

The Austin area economy performed as strongly as many economists predicted over calendar year 2013. A recent study by the Milken Institute ranks Austin as the Best-Performing City in 2013 based upon job creation, job retention and the quality of new jobs. Over 27,000 jobs were created in the Austin MSA, a growth rate of 3.3%, with continued growth projected for 2014 and beyond. The latest Bureau of Labor Statistics figures from November recorded a 4.7% unemployment rate for the Austin MSA. This was the lowest rate since September 2008 before unemployment eventually spiked to a recession high of 7.3% in December 2009. The rate of job growth in the Austin area has outpaced that of the national economy, with the national unemployment rate as high as 7.0% in November.

Source : Cushman & Wakefield