January 2012

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December Austin Job Market Report Out

The Austin job market is moving. According to a recent report out, the Austin area did see a reduction in the unemployment rates in the month of December. The report, issued by the Texas Workforce Commission, was released on Friday and provides some insight into what is happening throughout the region.

According to the information, the Austin area unemployment rate in December was 6.3 percent. That ist he lowest it has been in the last two years. The state's unemployment rate fell to 7.8 percent as well. That is a drop from 8.1 percent the month before.

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Austin Job Market Insider - What Does Retail Office Data Mean?

There are many ways to track how well the market is doing. When it comes to the Austin job market, one of the ways to know how well the area is doing is by looking at the amount of office spaces that are vacant. It goes without saying that the more that are filled up, the more likely the area has jobs to offer. So, what does the office real estate market in Austin have to say about the current conditions?

The Market from a Real Estate Point of View

One of the best ways to know what's happening in the market is to consider the office market. Austin does have a large number of office buildings. However, reports indicate that in the final quarter of the year, there was indications that many of these spaces were filling up. As the number of available offices decreases, the value of rent is increasing. That is something we are seeing as well, according to the Oxford Commercial Brokerage firm. Here is a closer look.