Thursday, March 25, 2010

What Spin!

 All of you real estate cheerleaders should take note of this. Unemployment in Austin is RISING, rates are going up, foreclosures are increasing, and federal homeowner subsidies are ending.

- Mr. Bubble

Austin job losses moderate in February | Statesman Business Blog

The Austin area lost jobs at a 0.6 percent annual rate in February, compared to a 1.3 percent year-over-year drop in January.

The Texas Workforce Commission said the area’s unemployment rate was 7.2 percent, down from 7.6 percent in January but up from 6.6 percent a year earlier.

The steepest losses continue to be in the construction and manufacturing sectors, which combined lost 5,500 jobs between February 2009 and last month.
But the leisure and hospitality sector — such as hotels and restaurants — gained 5,000 jobs over the same period.

Statewide, the Workforce Commission said the unemployment rate was 8.2 percent last month, the level it has held at for four months in a row.

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