Austin Growing Jobs & its Manufacturing Market
published on February 18, 2013
The Business Journals utilized a six-part formula to rank the nation’s 102 major metropolitan areas, bestowing the best scores on areas highly conducive to the creation and development of small businesses (private-sector employers with 99 or fewer employees). Austin boasts 23 small businesses per 1,000 people and a private sector job growth of 4.57% in one year, meaning homes for sale in Austin are quickly shrinking in supply as more people move in and even more people find themselves on healthy economic ground.
Only 14 of the nation’s major markets have regained all of the private-sector jobs they lost during the recession, and Austin, alongside Houston, is leading the way in recovery. Austin placed second in the rankings, with a raw gain of 45,800 positions, but when ranked by a percentage calculation, Austin actually finished No. 1, with five-year job growth of 7.5%, growth that is fueling the sales of houses, like those in the commuter friendly and newer Avery Ranch neighborhood.
In Austin, the number of manufacturing jobs has increased more than 4% in each of the past two years. The area’s largest manufacturers make computer and electronic products and employ more than 24,000 workers. In 2010, they exported about $4.7 billion worth of goods, more than half of all the area’s exports that year, according to data from the U.S. Department of Commerce. Austin’s manufacturing might, allure for expanding companies, and powerhouse small business climate continue to create an economic landscape that draws people (and employers) to Austin from around the globe.
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