According to data recently released from the Texas Workforce Commission, the Austin-Round Rock MSA* unemployment rate increased slightly from July 2024 to August 2024, and is now at 3.7%**, as represented by 54,543 unemployed residents. Key takeaways include:
- The Austin metro unemployment rate remains below the Texas (4.4%) and national rates (4.4%) in August.
- According to TWC, the Austin metro gained 4,200 jobs from July to August. The region has experienced an annual growth rate of 1.3%, representing the collective addition of 17,300 jobs since August 2023.
- Furthermore, TWC reports unemployment in the Capital Area/Travis County region*** increased slightly to 3.6% from July to August, representing 31,354 unemployed residents.
- Note:The unemployment 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 (1,800), mining, logging and construction (1,700) and government (1,000).
- Other industries that experienced monthly job growth include trade, transportation and utilities (600), private education and health services (100) and other services (100).
- Monthly Decreases: Leisure and hospitality (-900) and information (-200) experienced regional job losses from July to August.
- Annual Increases: Mining, logging and construction experienced the greatest regional job growth over the past 12 months with an increase of 5.8%, followed by other services (4.0%).
- Other industries that experienced annual job growth include leisure and hospitality (3.7%), private education and health services (2.4%), government (1.9%), trade, transportation and utilities (1.1%) and financial activities (0.7%).
- Annual Decreases: Information (-4.9%) and professional and business services (-0.9%) experienced an annual decrease from August 2023 to August 2024.
*The Austin-Round Rock Metropolitan Statistical Area includes Bastrop, Caldwell, Hays, Travis, and Williamson counties.
**Unemployment rates listed are not seasonally adjusted.
***The Capital Area Workforce Development Area includes Travis County.
