Austin Real Estate Blog

The job market in Austin is steady, and has actually grown a bit, adding nearly 22,000 jobs in the past year. The hospitality industry posted 1,500 new jobs in March while the government sector added 1,600. Transportation and utilities also posted decent gains for the year, adding 4,000 jobs. Unemployment rates for the state as a whole stayed steady at 4.2 percent.

Statewide, Texas has maintained a job growth rate of 2.1, twice that of the nationwide rate of 1 percent in 2007, and the market is predicted to remain strong for the next year at least. In spite of a national downturn, Texas, and Austin in particular, have managed to sustain a healthy environment for job opportunities.

A new initiative for creating jobs can be found in Austin’s zero-waste proposal. Reuse and recycling efforts - in thrift stores and recycling plants, for example - could create up to 500 new jobs in the “green-collar” industry. Also, due to initiatives proposed by Austin Mayor Will Wynn as part of his “Climate Protection Plan” announced last year, these green-collar workers will be increasingly in demand as people look to revamp their homes, schools, government and office buildings to be more environmentally friendly.

The growth doesn’t stop there. The Austin Chamber of Commerce announced an ambitious plan in March of this year to create 117,000 new jobs over the next five years, adding over $10 billion to the area payroll. Part of Opportunity Austin, this next phase focuses on convergence technology, digital media, green industries, office and health care jobs, and life sciences. The chamber is looking to attract corporate headquarters as well as establish a medical school to attract medical device and biotech industries.