According to data released today from the Texas Workforce Commission, the Austin-Round Rock MSA* unemployment rate increased slightly from April 2024 to May 2024, and is now at 3.2%**, as represented by 47,011 unemployed residents. Key takeaways include:
- The Austin metro unemployment rate remains below the Texas (3.8%) and national rate (3.7%) in May.
- According to TWC, the Austin metro gained 5,000 jobs from April to May. The region has experienced an annual growth rate of 2.1%, representing the collective addition of 27,600 jobs since May 2023.
- Furthermore, TWC reports unemployment in the Capital Area/Travis County region*** increased slightly to 3.1% from April to May, representing 27,209 unemployed residents.
- Note:The unemployment data released today is not seasonally adjusted.
May Job Growth/Losses by Industry in the Austin-Round Rock MSA:
- Monthly Increases:Industries that experienced regional job growth from April to May include leisure and hospitality (3,800), mining, logging and construction (900) and government (800).
- Other industries that experienced monthly job growth include trade, transportation and utilities (300), other services (300), financial activities (200), manufacturing (200) and private education and health services (100).
- Monthly Decreases: Professional and business services (-1,300) and information (-300) experienced regional job losses from April to May.
- Annual Increases: Other services experienced the greatest regional job growth over the past 12 months with an increase of 6.5%, followed by mining, logging and construction (4.6%).
- Other industries that experienced annual job growth include leisure and hospitality (4.4%), private education and health services (3.6%), government (2.6%), trade, transportation and utilities (2.0%), financial activities (1.9%) and manufacturing (0.8%).
- Annual Decreases: Information (-4.2%) and professional and business services (-0.2%) experienced an annual decrease from May 2023 to May 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.
