According to new data from the Texas Workforce Commission, the Austin-Round Rock MSA* unemployment rate decreased slightly from July 2022 to August 2022, and is now 3.0%**, as represented by 40,440 unemployed residents. Key takeaways include:
- The Austin metro unemployment rate remains below Texas (4.2%) and national (3.8%) rates.
- According to TWC, the Austin metro lost 3,500 jobs from July to August. The region has experienced an annual growth rate of 5.3%, representing the collective addition of 62,900 jobs since August 2021.
- Furthermore, TWC reports unemployment in the Capital Area/Travis County region*** also decreased to 2.9% from July to August, representing 23,398 unemployed residents.
- Note:The unemployment data is not seasonally adjusted.
August Job Growth/Losses by Industry in the Austin-Round Rock MSA:
- Monthly Increases:Industries that experienced regional job growth from July to August include education and health services (2,800) and other services (500).
- Monthly Decreases: Professional and business services (-1,900) and trade, transportation and utilities (-1,500) experienced the greatest regional job losses from July to August.
- Annual Increases: Leisure and hospitality experienced the greatest regional job growth over the past 12 months with an increase of 12.7%, followed by professional and business services (8.1%) and information (7.7%).
- Annual Decreases: Mining, logging and construction jobs experienced a decrease (-3.7%).
“The latest data from the Bureau of Labor Statistics indicates that the Austin metro is the top performing metro for job growth in the United States when compared to the top 50 metros,” Tamara Atkinson, CEO of Workforce Solutions Capital Area, said. “Major job growth and low unemployment adds to the challenge of finding candidates to fill numerous new roles, but Workforce Solutions Capital Area is responding to this growth strategically for both the job seekers’ and employers’ benefits.”
The organization was recently awarded over $500,000 in grants to expand local apprenticeship programs in the manufacturing, technology and healthcare industries. These industries have experienced a skills gap in recent years, and the extended opportunities aim to help Travis County workers achieve certification and on-the-job training, which also helps employers fill their middle-skill roles with qualified local talent.
“With learnings from our existing apprenticeship programs with union partners, Workforce Solutions Capital Area has been able to creatively envision apprenticeships in other nontraditional industries, such as tech and healthcare,” Melanie Flowers, board chair for Workforce Solutions Capital Area, said. “A data scientist can earn an average of $123,600 annually and an advanced degree is not a requirement, so we want to make sure our community is aware of these career options and how to access them.”
Workforce Solutions Capital Area’s three career centers across Austin are available by phone, email, or in-person to serve residents and businesses impacted by economic changes caused by COVID-19. Residents seeking assistance can contact 512-454-9675 or visit wfscapitalarea.com to learn about services and resources for job seekers, employers, parents, and students.
