A recent study by Manpower Employment Outlook Survey ranked Austin the city with the 5th healthiest employment outlooks. One attribute that helps Austin’s prosperous job predictions is its ability to continue to attract businesses. Businesses favor Austin for its climate and talent pool but also because they can take advantage of not paying a state income tax. With businesses relocating to and opening in Austin, Austin continues to add fresh new jobs on the market giving homeowners plenty of confidence that the housing market will remain stable since foreclosures due to job loss will not be a threat.
While the nation is still working towards adding jobs with a national unemployment rate of 9.1 percent, Texas is making headway. Texas ranked 3rd on the list of healthy employment outlooks with an unemployment rate of 8.5 percent and Austin is helping a lot.
In August, Austin’s unemployment rate dropped down to 7.3 percent due to Austin-area employers which added about 5,600 jobs to the Austin job market. Industries that added new jobs in August included professional and business services, government, hospitality, retail, health care, manufacturing and construction.