TEXAS CITIES LABOR AWAY
TEXAS (San Antonio Business Journal) – Four of the five best labor markets in the country are in Texas, according to a new study compiled by Portfolio.com. Austin leads the way, followed by San Antonio. Houston ranks fourth and Dallas–Fort Worth fifth. Landing at third is Baton Rouge.
All 100 metropolitan areas in the study, including those in Texas, have seen employment decline since last year. However, while 5 percent of the nation’s private-sector jobs have disappeared since June 2008, the collective decline for the 'Texas Four' has been 2.6 percent. The Texas markets still have 589,500 more jobs than they did five years ago. Portfolio.com used a nine-part formula to analyze employment trends in the nation’s 100 largest labor markets. The formula used midyear U.S. Bureau of Labor Statistics data for 2004–09, including unemployment rates and trends, and raw and percentage changes in private-sector employment.
Texas has done well at dodging the proverbial bullet in this round of the roller coaster that is American economics. While other markets across the nation experienced extraordinary appreciation of private property during the early 2000's resulting in the unavoidable crash that ensued when consumer debt ran rampant, unemployment hit highs, and real estate financing woes began to take hold.
Texas has held pretty steady in terms of property values because of the conservative appreciation rates and stable economic conditions and employment opportunites have a lot to do with that stability. If you are considering a move to Texas...consider the Hill Country located between Austin and San Antonio (numbers two and three on the list) a beautiful and affordable place to live!
