Austin, Texas – According to data released today from the Texas Workforce Commission, the Austin-Round Rock MSA* unemployment rate did not fluctuate from June 2022 to July 2022, and remains at 3.1%**, as represented by 41,457 unemployed residents. Key takeaways include:
- The Austin metro unemployment rate remains below Texas (4.3%) and national (3.8%) rates.
- According to TWC, the Austin metro gained 2,600 jobs from June to July. The region has experienced an annual growth rate of 6.0%, representing the collective addition of 70,900 jobs since July 2021.
- Furthermore, TWC reports unemployment in the Capital Area/Travis County region*** also remained steady at 3.0% from June to July, representing 23,914 unemployed residents.
- Note: The unemployment data released today is not seasonally adjusted.
July Job Growth/Losses by Industry in the Austin-Round Rock MSA:
Monthly Increases: Industries that experienced regional job growth from June to July include professional and business services (5,000), education and health services (3,200) and trade, transportation and utilities (1,600).
- Other industries that experienced monthly job growth include leisure and hospitality (700), other services (500), and information (400).
- Monthly Decreases: Government (-8,300) and mining, logging and construction (-600) experienced regional job losses from June to July.
- Annual Increases: Leisure and hospitality experienced the greatest regional job growth over the past 12 months with an increase of 13.3%, followed by professional and business services (10.6%) and information (8.6%).
- Other industries that experienced annual job growth include manufacturing (8.2%), education and health services (5.5%), and trade, transportation and utilities (5.5%).
- Annual Decreases: Mining, logging and construction jobs experienced a decrease (-2.1%), as well as government (-0.1%).
According to a new report from Goldman Sachs, recent nationwide increases in unemployment claims are likely correlated to the government’s changed process for seasonal adjustment in April. The new adjustment could account for what appears as a more exaggerated rise in summer unemployment.
“Job creation is actually increasing at a steady rate in our region,” Melanie Flowers, board chair for Workforce Solutions Capital Area, said. “From 2016 to 2021, jobs increased by 16% in the Austin metro, and this change far outpaces the national job growth rate of 1.8%.”
Workforce Solutions Capital Area has partnered with Travis County Precinct One, the City of Austin’s Economic Development Department, Huston-Tillotson University and Greater Mt. Zion to host a community engagement session on Saturday, Aug. 20, where community members can learn about no-cost skills training as well as supportive services like child care.
Nearly 70% of those who claimed unemployment benefits in Travis County since March 2020 have less than an associate’s degree and are disproportionately people of color. High-skilled workers in the region’s most in-demand sectors have enjoyed a wealth of opportunities—even amid COVID—and through community engagement, Workforce Solutions Capital Area aims to ensure that communities of color are experiencing the benefits of Austin’s growing workforce at the same rate as everyone else.
Travis County Commissioner Jeff Travillion and Council Member Natasha Harper-Madison will join featured speakers for an informative session on Travis County and City of Austin funded scholarship opportunities. RSVPs for the August 20 event, which also includes streaming options, are available via Eventbrite.
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 512-549-4967 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.