Austin Economic Indicators April 2015 via Dallas Fed

The Austin economy grew strongly in February. Jobs increased at an annualized rate of 4.5 percent—over 3 percentage points faster than the state. The unemployment rate also fell sharply to 3.4 percent, its lowest level since early 2001. Austin home prices continued to appreciate as the median sales price rose 6.8 percent year over year in February.

Despite moderating slightly, the Austin Business-Cycle Index expanded at an 8.5 percent annualized rate over the six months ending in February. While the index is monthly, retail sales and wages enter the index quarterly and with a lag. Real retail sales data for third quarter 2014 show an annualized 4.2 percent contraction, but real wage growth accelerated to 7.3 percent over this time. Combined with recent strong job expansion and a declining unemployment rate, the index is up 8.5 percent over the past five months.

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