According to data released today from the Texas Workforce Commission, the Austin-Round Rock MSA unemployment rate increased from July 2023 to August 2023, and is now at 3.9%, as represented by 56,451 unemployed residents. Key takeaways include:
- The Austin metro unemployment rate remains below the Texas rate (4.5%) and is the same as the national rate (3.9%) in August.
- According to TWC, the Austin metro saw a loss of 2,900 jobs from July to August. The region has experienced an annual growth rate of 2.4%, representing the collective addition of 30,600 jobs since August 2022.
- Furthermore, TWC reports unemployment in the Capital Area/Travis County region also increased slightly to 3.9% from July to August, representing 33,073 unemployed residents.
The data released today 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 professional and business services (1,900), mining, logging and construction (1,400) and government (1,300).
- Other industries that experienced monthly job growth include manufacturing (200), and information (200).
- Monthly Decreases: Leisure and hospitality (-3,700), trade, transportation and utilities (-1,900) and private education and health services (-1,900) experienced regional job losses from July to August.
- Other industries that experienced monthly job losses include financial activities (-400).
- Annual Increases: Mining, logging and construction experienced the greatest regional job growth over the past 12 months with an increase of 6.7%, followed by leisure and hospitality (5.3%).
- Other industries that experienced annual job growth include other services (4.2%), professional and business services (3.7%) and manufacturing (3.4%).
- Annual Decreases: No industries experienced an annual decrease from August 2022 to August 2023.
