Austin: Best Economic Recovery in the US!

Austin TX: Staying Strong
It’s no secret that Austin is weathering the economic storm better than virtually any other city in the US. And we know you’re probably sick of hearing all the great news about Austin – especially if you don’t live here (yet). But this most recent piece of news about the Austin economy comes as a bit of a surprise even to those of us who pay close watch to our local market, because this time the news is BIG. According to a recent Forbes report, Austin is leading the nation in our economic recovery (well ok, technically we’re tied with Round Rock). What does this mean exactly? Well for one Austin’s unemployment rate of around 7.5% is one of the lowest in the country – the national unemployment rate right now is hovering around 10%. The number of central Texas jobs also increased by almost 1% between 2007 and 2009, which is more than any other US city included in the report. Austin’s GMP is also the top in the US (as we recently reported in our 2009 market recap here). Dallas came in 2nd in the rankings and Houston and San Antonio also made the top ten lists, and total Central Texas is supposed to add more than 7% to the number of jobs in just the next three years! Check out the video below talking more about the economic recovery from CNN below.

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