Austin releases unemployment data late, but we now have August figures for Austin, Texas, and the US.  The unemployment rate, like other factors, points to the end of the recession and the beginning of a slow & steady recovery.  We are expecting unemployment rates in Austin (along with the state and national rates) to continue to stabilize along with other indicators, including an increase in housing sales and starts and a decrease in foreclosures.  It takes time for stabilization to fully work its course, but we now have strong evidence that the worst is behind us.  In Austin, we can say with confidence that the bottom of the market was this summer and we look forward to remain in what is said to be the strongest housing market in the country here in Austin.

National, Texas, and Austin Unemployment Rate Over Time

See a live, updated chart at http://austinhome.pro/statistics

Austin August 2009 Unemployment Rate: 7.2 (down from 7.3 in July)
Texas August 2009 Unemployment Rate: 8.1 (down from 8.2 in July)
National August 2009 Unemployment Rate: 9.6 (down from 9.8 in July)

Related posts:

1. Austin’s Low Unemployment Rate Continues to Outshine TX, US
2. Market Update: End of September 2009
3. In the News: Austin fighting back; jobless rate drops for 2nd month