Austin, TX Top 5 City with Most Durable Jobs During COVID-19
The Austin job market is in the enviable position of having the 5th highest concentration of “durable jobs” amidst the pandemic according to a study released by Yardi Matrix in May.
Nate Robson of GlobeSt.com reports “…metros with the highest percentage of “durable jobs,” which have seen relatively few layoffs, are often home to a capital, a state university or have a strong knowledge-based industry.” It comes as no surprise, then, that Austin would place so high on the list as it is the capital of Texas, home to the University of Texas, and is a high-tech hub featuring companies like Dell, Apple, Google, Facebook, and Hewlett-Packard.
“Metros with a strong concentration of state and federal government jobs, as well as those that are hubs for the financial and technology sectors, have been relatively sheltered from the economic storm caused by COVID-19.”
The full economic effects of the pandemic are still to be seen and may not fully reveal themselves until much later in the year, but Austin appears to be very well placed to recover quickly.
The Yardi Matrix study can be found here.