Austin, Texas – According to data released today from the Texas Workforce Commission, the Austin-Round Rock MSA* unemployment rate has slightly increased from May 2022 to June 2022, and is now 3.1%**, as represented by 42,236 unemployed residents. Key takeaways include:
- The Austin metro unemployment rate remains below Texas (4.4%) and national (3.8%) rates.
- According to TWC, the Austin metro gained 13,000 jobs from May to June. The region has experienced an annual growth rate of 6.4%, representing the collective addition of 75,000 jobs since June 2021.
- Furthermore, TWC reports unemployment in the Capital Area/Travis County region*** also slightly increased to 3.0% from May to June, representing 24,189 unemployed residents.
- Note: The unemployment data released today is not seasonally adjusted.
June Job Growth/Losses by Industry in the Austin-Round Rock MSA:
- Monthly Increases: Industries that experienced regional job growth from May to June include leisure and hospitality (5,800), professional and business services (2,800) and trade, transportation and utilities (2,000).
- Other industries that experienced monthly job growth include manufacturing (1,600) information (1,200), and mining, logging and construction (1,100).
- Monthly Decreases: Government (-2,100) and education and health services (-1,300) experienced regional job losses from May to June.
- Annual Increases: Leisure and hospitality experienced the greatest regional job growth over the past 12 months with an increase of 15.7%, followed by information (11.0%) and professional and business services (9.9%).
- Other industries that experienced annual job growth include manufacturing (9.2%), trade, transportation and utilities (5.8%), and financial activities (5.4%).
- Annual Decreases: Mining, logging and construction jobs experienced a decrease (-0.5%), as well as government (-0.1%).
As high school and college students occupy some available jobs for seasonal summer employment, there is typically a slight uptick in unemployment rates in June. This is also the time where there is a rise in unemployment in the education sector due to the end of the school year.
“Our country has a ‘two for one’ labor market ratio right now, which means there are two job openings for every one worker seeking employment in the U.S.,” Tamara Atkinson, CEO of Workforce Solutions Capital Area, said. “Locally, school districts are now ramping up their hiring efforts for the start of the next school year, and I’m seeing sign-on bonuses and retention incentives as a necessary means to fill those roles quickly or face staffing shortages come August.”
Workforce Solutions Capital Area continues to work with local employers to host regular hiring events where residents can connect directly to companies with available roles and in many cases, interview and receive job offers on the spot. Additionally, those who are currently employed but wishing to expand their skill set to pursue a higher-income position within their company, can take advantage of the 1,000 free career training scholarships for Central Texas residents by applying at www.wfscapitalarea.com/career-training-scholarships/.
To learn more about training opportunities provided by Workforce Solutions Capital Area, the community is invited to attend a community engagement session being held at Greater Mount Zion on August 20. Attendees will hear from local community leaders about how they can recharge their careers with no-cost services. Those interested will be able to sign up on the spot to take the first step toward training for the future. RSVPs are encouraged and available via Eventbrite.
“Our data shows that disproportionately people of color are not receiving the advantages of abundant job opportunities and financial gains that other sectors of the community are benefitting from,” Melanie Flowers, board chair for Workforce Solutions Capital Area, said. “We are addressing these disparities in our community, particularly among those with lower income, less education, and people of color, and responding with an impactful workforce solution.”
Residents seeking assistance can contact 512-549-4967 or visit wfscapitalarea.com to learn about services and resources for job seekers, employers, parents, and students.
Workforce Solutions Capital Area is the non-profit organization that serves as the leadership and governing body for the Austin/Travis County area workforce system. They are responsible for the planning, oversight, and evaluation of workforce development activities in the Capital Area. Learn more at WFSCapitalArea.com and follow along on Facebook, LinkedIn, Instagram, Twitter and YouTube.
*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.