Yet, another article that'll draw more people to Austin. (Burnet: for sale, real estate)

[latikeriii]

From now to the end of 2010, the economy of Austin, Texas, is projected to grow by $5 billion, and unemployment has stayed relatively subdued.

Which cities will and won’t recover fastest - Forbes.com- msnbc.com

[inthecut]

Originally Posted by latikeriii

From now to the end of 2010, the economy of Austin, Texas, is projected to grow by $5 billion, and unemployment has stayed relatively subdued.

Which cities will and won̢۪t recover fastest - Forbes.com- msnbc.com

Much of it has to do with real estate as well.....Texas is the only large sunbelt state that didn't go crazy price wise, and they are reaping the benefits of that reticence now, as all the other large ones languish(Fla, Cal, Nev, Az)........The city of Austin has a huge budget shortfall now, and loan money for growth is hard to come by, so I'm still holdling my breath per the 5 billion growth.....job growth has just hit negative territory in June in Austin year-to-year, and the pop growth continues unabated, the primary reason Austin's UR currently is 7.1%, rising almost an entire percentage point in just the last month.....

Keep in mind that Forbes is largely PR fluff, and that Austin has cause for concern per the recession like every place else.......

[Trainwreck20]

It is all relative, of course. Of the three people that I know personally that have been laid off, two have found work in Austin within 2 months, the other is moving to Alabama, but is actually getting a huge raise in the process (from what his pre-laid off salary was). Two co-workers have left voluntarily recently, one went to Ft. Worth, the other to Denver. Both were making career moves and found excellent jobs out there. Three of those five stayed in state.

I do know of a guy (don't really know him personally, though) that got laid off in the IT sector and has been looking for serveral months. But I can guarantee you, that with his attitude, he will have to get really lucky to get anything. In high-times, his talent was a necessity where he worked, but at the first oppurtunity, I am sure they were more than happy to let him go....it does come down to a lot more than your talent.

[inthecut]

Originally Posted by Trainwreck20

It is all relative, of course. Of the three people that I know personally that have been laid off, two have found work in Austin within 2 months, the other is moving to Alabama, but is actually getting a huge raise in the process (from what his pre-laid off salary was). Two co-workers have left voluntarily recently, one went to Ft. Worth, the other to Denver. Both were making career moves and found excellent jobs out there. Three of those five stayed in state.

I do know of a guy (don't really know him personally, though) that got laid off in the IT sector and has been looking for serveral months. But I can guarantee you, that with his attitude, he will have to get really lucky to get anything. In high-times, his talent was a necessity where he worked, but at the first oppurtunity, I am sure they were more than happy to let him go....it does come down to a lot more than your talent.

TW, you are right that it is largely personal as well.....some hapless folks can't find anything in a booming economy/time, while those that are relentless can find something viable in the worst of times anywhere....
and Austin surely IS far healthier than most places.....

I still recall that old line...
A recession is when your neighbor loses HIS job...
A depression is when you lose yours........

Sorta makes sense...it all depends on where you stand.....and what you make out of it yourself....

[mlassoff]

There is definitly a segment of people whose own attitude is their own worst enemy. No one owes anyone a job, and getting a job is a competition.

I know its harsh, but in a recession generally (not always) the best employees keep their jobs because they are valuable assets to the company and the bottom 10% are the ones in danger. Then again, the bottom 10% are always in danger-- but now, there isn't enough demand for them to find another job quickly. That having been said, I know there are times where good workers see their jobs eliminated due to seniority or other considerations.

[Trainwreck20]

I am curious if there isn't a little economic Darwinism going on here.....do the people with the best skills (such as motivation, planning skills, organization, etc.) get up and go look for a job more readily than the less skilled? Is the influx of people we are seeing a better 'quality' of talent than those that do not get up and move?

[inthecut]

Originally Posted by Trainwreck20

I am curious if there isn't a little economic Darwinism going on here.....do the people with the best skills (such as motivation, planning skills, organization, etc.) get up and go look for a job more readily than the less skilled? Is the influx of people we are seeing a better 'quality' of talent than those that do not get up and move?

Great point...i think so too...a Spencerism as well(look that scientist up to see what I mean).....indeed, those that have the whole package, and took time to build skills, are prob more industrious all-in-all than more hapless slacker types just clocking in, and complaining about externals, rather than building up their own "internals"....

[latikeriii]

Good Article

[SIZE=2]http://impactnews.com/southwest-austin/news/3404-housing-shortage-may-cause-home-values-to-rise-by-2011 [/SIZE]
[SIZE=2][/SIZE]

[austinite45]

Originally Posted by latikeriii

From now to the end of 2010, the economy of Austin, Texas, is projected to grow by $5 billion, and unemployment has stayed relatively subdued.

Which cities will and won̢۪t recover fastest - Forbes.com- msnbc.com

First i must confess i haven't read the linked article. But i feel safe to say that the projection of 5 billion growth for Austin is merely another BS by the proven idiots at forbes.

People who regularly read forbes (or forbes.com) and who can be honest with themselves should have little difficulty recalling that roughly 80% - 90% of forbes projections have turned out to be BS. and that's not counting major economic crises it has utterly failed to foresee over the years.

a magazine run by idiots, or a mouth piece for sale, or both?

[inthecut]

Originally Posted by austinite45

First i must confess i haven't read the linked article. But i feel safe to say that the projection of 5 billion growth for Austin is merely another BS by the proven idiots at forbes.

People who regularly read forbes (or forbes.com) and who can be honest with themselves should have little difficulty recalling that roughly 80% - 90% of forbes projections have turned out to be BS. and that's not counting major economic crises it has utterly failed to foresee over the years.

a magazine run by idiots, or a mouth piece for sale, or both?

I wouldn't say it is for/by idiots......it IS a business journal, and, like CNBC, does chat up the marketplace.....our household calls Erin Burnett, Maria, and gang at CNBC paid cheerleaders for the marketplace and GE, who owns and pays CNBC's bills......People want to read that things are picking up in the mags. They want to hear that their portfolio is growing....They DO NOT want to hear bad news, and DO want to hear stories that pump up sectors/cities....hence the Austin PR posted on here from Forbes.....

The facts are such as these...Austin is NOT growing jobs now...it is LOSING them......the UR is going up, and was 7.1% last time they recorded the same.....More displaced job seekers than ever are moving TO Austin now......the Austin city revenue is VERY tight now.....local tax reveune is almost 20% down from last year.....

AND, if we get 3%+ pop growth the next 12 months, we HAVE to have at least 3% job growth just to maintain that same 7.1% UR......1.5% job growth + 3% pop growth still kicks the Austin UR up to 8.6% in 12 months.....

So, the issue is, can we handle the pop absorption with even a flat job situation, let alone a declining one?......I have not heard that mentioned anywhere here on CD, and would love to hear comments on the same...