When buyers are considering relocation to Austin we often get the question, "How's the job market in Austin?".  Even though we have friends and associates that are currently unemployed, the overal job market in Austin is one the strongest in the country.

Through July 2009 according to data compiled by the Austin Chamber of Commerce and Beverly Kerr, Chamber Vice President of Research Austin continues to maintain a  "best performing" position in major metros ranking based on percent change in nonfarm payroll jobs.

Houston's 3.1% job loss rate has put it at 18th in this ranking for July, but Dallas, Fort Worth, and San Antonio continue to place in the top 10.

 

If this ranking was expanded to the 100 largest metros, instead of the 50 largest, there would only be three metros outperforming Austin. Two of those metros added jobs over the last 12 months: El Paso (0.9%) and Baton Rouge (0.2%).

 

The median rate of loss among the 50 largest metros is -4.1%. Nationally, the difference between July 2008 and July 2009 is -4.2%, and for Texas it is -2.1%. Eleven states outperform Texas on job growth.

 

 

New York is the best performing large state with job losses amounting to only -1.9% and three divisions of the New York MSA also make the best performing metros top 10 list. California's losses (-5.0%) put it at 43rd and the state's large metros have seen losses ranging from -4.2% to -6.0%. Two of California's metros, Sacramento and Riverside, fall into the bottom quintile of the 50 largest metros. The very bottom of the ranking includes Detroit and Warren, with well known job market issues, but also Phoenix and Las Vegas, metros that, previous to this recession, had been among the fastest growing.

 

In recent data released by the Texas Workforce Commission for Austin and other Texas metros, two sectors set Austin apart. Austin saw growth in private service providing jobs (3,200 jobs or 0.6%), where the other large Texas metros saw losses; and in goods producing industries, Austin's losses (10,000 jobs or 9.4%) were more dramatic than those seen elsewhere.

Breaking out private service providing employment for the nation's top 50 metros also shows Austin to be the only metro with positive job growth.

The dominant sector buoying Austin's performance is continued growth in government jobs (5,400 or 3.5%). Other Texas metros and the nation generally are seeing those jobs grow, however Austin benefits from the relative share that the sector represents here. Among the top 10 performing metros, only Washington and Virginia Beach also have a government sector accounting for more than 20% of total employment. The average government share in the other top performing metros is about 15%.