Austin Economic Indicators July 2022 via Dallas Fed

Austin’s economy continued to grow in May, though at a slower pace. The Austin Business-Cycle Index expanded at a moderated rate, as the unemployment rate ticked down to a new low since the pandemic, but Austin’s employment growth slowed from April’s pace. COVID-19 hospitalizations increased notably ahead of the Fourth of July weekend. Permits for new-home construction flattened out in May, while continued increases in home prices pushed affordability further below the national average.

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