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December 8, 2018 Comments Off on Austin Business-Cycle Index Continues Expanding Views: 2825 Austin, Texas News

Austin Business-Cycle Index Continues Expanding

The Austin economy continued its growth in October 2018, with the Federal Reserve Bank of Dallas’ Austin Business-Cycle Index at a 7.9% annualized rate. The metric is well above the long-term average of 6%, with Dallas Fed economists pointing to job growth as a main reason.

The metro’s labor force expanded at an annualized 3.4% year to date, with employment growth clocking in at an annualized rate of 7.7% over a three-month period from July 2018-October 2018. Health and education services led the way, expanding by approximately 6,000 jobs.

Also on the rise were median home prices, which hit a record high of $314,975 in October. Home sales fell by 0.3% during the same period.

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