Monday, June 2, 2008

Austin named #2 Metro area to offer the best job opportunities for young adults.

Group No. 1 consists of the 11 major markets where more than 25 percent of all residents are 18 to 34 years old. Group No. 2 contains 14 metros where fewer than 22 percent are young adults. Here's how they match up:
-- The young markets have been experiencing population growth of 2.1 percent per year since 2000. That's seven times the growth rate of 0.3 percent for the old markets.
-- The annual rate of job growth is 1.9 percent in the young metros compared to 0.4 percent in their older counterparts.
-- Personal income is climbing at a median pace of 3.4 percent per year in the young markets. The corresponding figure is 2.8 percent on the old side.

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On bizjournals.com they have writen some articles and and published charts recently based on a study of the 67 largest metro areas in the USA and Austin is ranked as the #2 city to currently offer the best job opportunities for young adults. It is based on crieria that they have set forth and you can read more of that in the article.
The meat is basically that 29% of Austinites are between the ages of 18 and 34. That is the heaviest concentration of young adults of all metro areas. Who cares? You should... especially if you are a homeowner. Some of these people own homes. Some do not. Austin has a lot of college students that lease properties while they are in school. If there are job opporunities for those students here in Austin, those students will purchase homes and continue to live in the area.
Students from the other larger metro areas will also consider Austin for its job opportunities, culure, lifestyle, and cost of living. This will have a positive affect on any homeowner or investor in the area because it creates a constan flow of young people wanting to move to the area usually from areas that are more expensive to live. What do you think?

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