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April 11, 2017 Comments Off on Job Growth Slips, Unemployment Spikes Views: 218 Austin, Texas News

Job Growth Slips, Unemployment Spikes

The Federal Reserve Bank of Dallas’ economic indicators for the Austin-Round Rock MSA showed the Business-Cycle Index dropping beneath its long-term average of 6% in February 2017, and ending up at 4.8%. Additionally, the unemployment rate increased to 3.8%, while jobs grew at an annualized pace of 2.6% over the three months through February. Year-over-year job growth was 3.6% in 2016, slightly below its long-term average from 2012-2015.

Austin’s median home price rose to $291,702, just short of its all-time high of $294,827. Also remaining near all-time highs are existing-home sales. Home inventories are at 2.4 months of supply, meaning Austin is one of the tightest residential real estate markets in Texas.

Read More at Federal Reserve Bank of Dallas


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