Austin Texas Metro Area Unemployment dropped to 5.1% from 6.3%

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The latest numbers just came out. Austin unemployment dropped from last month. The overall employment increased from 1,182k to 1,193k. The unemployed decreased from 80k to 63.7k.  

That data alongside historically low interest rates, outdated land use code and lack of supply explains the appreciation in the metro.

The types of workers that Austin is seeking really can do their work from nearby locales or other cities.  Employers are a lot more receptive to just using Zoom or Webex for workers now so I think this data is less relevant than it used to be, but Austin is certainly still booming.  I drove by the site for the new basketball stadium yesterday and could count 12 cranes within a half mile radius.  It's nuts.  Apple's campus in northern Austin has 5 or 6 cranes all by itself and is a billion dollar development.  Even nearby cities like Leander are starting new giant developments.  

It's a good time to be a developer or investor in the greater Austin MSA.  

@Aaron Gordy Let's hope this trend keeps going in the same direction. I'm concerned we could see it start to go back up in the coming months as small businesses without support will finally have to close shop. I hope this isn't the case because this town will have plenty of people with good jobs to support these businesses once the pandemic finally runs its course.