If you’ve been following for a while, you know we are all about Austin, the capital city of Texas.
Silicon Hills has boasted record low unemployment numbers and lots of big companies moving in or expanding operations. Tech talent has been relocating here for the wealth of career opportunities and in 2022, Texas added more tech workers than any other state, according to CompTIA. In the most recent US Census Bureau estimates, Austin has made the list of top 10 most populous cities.
Last year, Austin added 57,300 jobs for a growth rate of 4.7%, placing it 17th in the top 50 performing largest metro areas. In the five year period from 2016 to 2021, Austin saw 16% job growth rate and an additional 12.5% is expected through 2026.
Austin Fun Fact
The state capital was moved from Houston to the new capital of Waterloo in 1839. The name was changed to Austin to honor Stephen F. Austin, known as the “Father of Texas”.
Not Just Big Companies
Behind these awesome stats are the smaller companies that are making Austin home and contributing to the growth and vitality of the Austin Metro area. Six local companies raised a combined $203.7 million in new funding in April. Most of the money will be invested in companies innovating in the digital security space, but a company in the green energy sector also secured significant funding.
Multimodal transportation company, Arrive Logistics, headquartered in Austin, is opening its fourth and fifth offices in Phoenix, Arizona and Columbus, Ohio. The Austin Business Journal recently named Arrive Logistics a “Top Tech Employer”.
These three companies are most recently among those hiring as others are hunkering down with the personnel already onboard. BigCommerce, ePayPolicy and Instapage are all seeking new hires and keeping the tech hub in Austin alive and well.
Some economic challenges, like higher energy prices, higher interest rates and higher inflation pose risks to businesses everywhere. But they may also spur more growth in Austin, according to Accountability Resources. The Austin Business Journal is predicting a rise in the number of startups because of the economic challenges. The Journal quotes Sequoia Capital as saying, “Many legendary companies ae forged during challenging environments as competition thins, real businesses get build and the opportunity for innovation is seized by those who see it.”
Recruiting in Austin
If you have open positions, consider building a relationship with a recruitment specialist who knows Austin. These experts have extensive knowledge about the preferences of the local talent pool and understand what constitutes an appealing salary and benefits package. By collaborating with a talent acquisition professional, your hiring team will be better equipped to navigate the candidate search during low unemployment.