Austin is one of the best cities in the country in terms of cities experiencing exponential growth, according to a recent article by Joel Kotkin and Michael Shires and published on Forbes.com. In the article, the authors detail the findings of a recent assessment of the best job markets in the U.S. this year. Austin made the second spot in the ranking based on its rapid job market growth and strong population growth.
Last year, the Austin job market experienced a 3.4% growth rate. Since 2006, the Austin employment market expanded by an impressive 39%. It may be easy to assume that the growth is solely the result of the booming Austin tech industry. However, a closer look at the various industries that showed an increase in jobs reveals a very diverse economic expansion.
As the Austin tech scene bulked up, tech workers from across the country began to see an opportunity to enjoy a tech career while living in a city with an affordable cost of living and robust lifestyle options. The Austin population expanded, as well as the number of tech companies that moved to the area to take advantage of the growing, highly educated population and area amenities. As a result, the job market expanded and attracted more newcomers, which then created more jobs in industries such as retail sales, construction, financial services and trade. This was the start of a diverse economic boom in the Austin area that still happening today.
Numbers published by the Austin Chamber of Commerce and collected from the Texas Workforce Commission (TWC) and the U.S. Bureau of Labor Statistics (BLS) shows that the Austin Metropolitan Statistical Area (MSA) was the fastest-growing major metro in the U.S. by the end of March. Austin added 36,800 net new jobs which represent a job market growth rate of 3.6% in the 12 months ending in March 2018.
Right now, job seekers know they have the luxury of choosing a career they love in a city that will enable them to have an ideal lifestyle. Relocating for a new job or career change is nothing that will keep today’s job seeker from taking a position in a new city, if the career and the city is the right one. Austin is growing at an exponential rate because it offers an ideal combination of appealing career opportunities and an excellent, affordable lifestyle.
If you’re considering Austin for your next move, reach out to one of the experienced and expert relocation specialists at David Brodsky Properties for a complimentary relocation consultation. Our specialists will be able to help you develop a relocation strategy that will enable you to make a stress-free move to an amazing city. Get your strategy session today to take the first step in making a well-executed move to Austin.
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