So Jobs Dictate Demand for Homes Right?

OK, so everyone in real estate says, Mr. Bubble, our homes haven't declined in value because of all the job growth in Austin....

- Mr. Bubble

Job plunge in January is steepest of recession

Unemployment rate hits 7.6%; worse news may be coming

By Barry Harrell AMERICAN-STATESMAN STAFF
The Austin metro area's unemployment rate rose in January, according to the Texas Workforce Commission, and more bad job news for the state could be on the way.
The five-county Austin-Round Rock metro area had 10,000 fewer jobs in January than it did a year earlier. That was a 1.3 percent drop — the steepest during the recession began in December 2007. A key reason was the layoff of retail workers hired for the winter holidays, as well as continuing cuts in construction and manufacturing, which have been hit hard during the downturn.
The area's unemployment rate was 7.6 percent.
That's a jump from 7 percent unemployment in December and compares with a jobless rate of 6.5 percent in January 2009.

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