In an artcile released Friday, October 20th, the Austin Business Journal reports that the Austin/Round Rock area unemployment rate has dipped to 3.8%. That is down from the August unemployment rate of 4.2%. In September of 2005, the unemployment rate was 4.3%. In looking at total jobs created, Austin gained 3,800 non-agricultural jobs in September. From September 2005 through September 2006, a total of 18,500 non-agricultural jobs have been created. This is an increase of 2.7% in 12 months.
This is great news for the Austin/ Round Rock economy, and more particular, the housing market. As I have said before, housing directly correlates with jobs. The more people that are working, the more housing that is needed by those workers. If this trend continues, we can look forward to a healthy local economy and a continuing strong housing market.
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