Austin Jobs and Austin Entrepreneurs

Scott Francis
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We weren’t part of the survey covered in this article, but we can relate to the survey results:

  • 68% expect to hire additional full-time employees in the next six months

Not only have we just hired quite a few people, we’re still in hiring mode.

  • 74% have increased revenue in the past six months, and 83% expect to increase revenue in the next six months

We would have responded with the majority in both of these answers as well.

  • Only 7% fear a deterioration in the country’s economy, compared to 15% globally

The survey results are certainly consistent with Austin’s low unemployment rate (consistently coming in a point lower than Texas and about 2 points lower than the US average).  At BP3 we’ll keep doing our best to help the local economy – and our customers.

And just days after writing the words above, the October Jobs Report was released by the US Labor Department, revealing that job growth is stronger than we realized:

The U.S. economy added 204,000 jobs in October, as the unemployment rate rose to 7.3 percent, the Bureau of Labor Statistics reported Friday.

and:

Employers also added 60,000 more jobs in the previous two months than earlier estimated.

The figures show hiring has picked up in the fall. Employers added an average of 202,000 jobs from August through October, up from 146,000 from May through July.
[…]

Economic growth accelerated in the July-September quarter to an annual rate of 2.8 percent, the government said Thursday. That’s up from 2.5 percent in the April-June quarter.

Credit: Austin American Statesman

Looking at Austin in particular, those Austin entrepreneurs mentioned above really are hiring and affecting the economy (emphasis added):

Employers in the Austin metro area added about 6,100 positions in October, the commission said Friday, boosting the region’s annual job-creation rate to 3.5 percent. That’s the fastest pace the region has posted since February 2008, the month that local payrolls started a steady deceleration that

eventually led to 14 consecutive months of year-over-year employment contraction in Austin. […]

Austin’s professional, scientific and technical services sector — a category that includes many of the area’s high-tech occupations — added 900 workers in October, a gain of 1.3 percent. Since October of last year, the sector had added about 6,600 jobs, a gain of nearly 11 percent.

Sometimes you really can connect the dots…